2024

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 <p class="is-style-lead">Graham Steele, U.S. Treasury Assistant Secretary for Financial Institutions, <a rel="noopener noreferrer nofollow" title="calls" href="https://thebittimes.com/tag/calls.html">calls</a> for establishing <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> <a rel="noopener noreferrer nofollow" title="regulation" href="https://thebittimes.com/tag/regulation.html">regulation</a> standards to preempt potential crises.</p>
 <p>U.S. Treasury Assistant Secretary for Financial Institutions Graham Steele emphasized establishing standards before potential crises occur. Speaking at a George Washington University Law School event, Steele highlighted the opportunity for policymakers to learn from past financial crises, like those leading to the Dodd-Frank Act and the National Bank Act.</p>
 <p>“For crypto-assets, policymakers have a chance to act before a crisis to adopt higher standards that support responsible innovation,” Steele said.</p>
 <p>He stressed the balance needed in legislative proposals, advocating for <a rel="noopener noreferrer nofollow" title="regulation" href="https://thebittimes.com/tag/regulation.html">regulation</a>s that bolster innovation without compromising existing financial <a rel="noopener noreferrer nofollow" title="regulation" href="https://thebittimes.com/tag/regulation.html">regulation</a>s.</p>
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    <p lang="en" dir="ltr">Happening now! Assistant Secretary Graham Steele @steelewheelz, GW Law '06, comes back to his alma mater @gwlaw for a conversation with former Deputy Director of the National Economic Council, Bharat Ramamurti @BharatRamamurti @BRamamurti46 . pic.twitter.com/lFsh2Y4kV0</p>— Jeremy Bearer-Friend (@bearerfriend) January 18, 2024
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 <p>Steele’s tenure at the Treasury, covering areas like cybersecurity and <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>, comes amid a growing focus on <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency <a rel="noopener noreferrer nofollow" title="regulation" href="https://thebittimes.com/tag/regulation.html">regulation</a> in Washington. This includes President Joe Biden’s 2022 executive order, which proposed a comprehensive government approach to digital assets, targeting consumer protection, financial stability, climate risks, and national security.</p>
 <p>The Treasury’s 2022 report, mandated by the executive order, called for vigilant monitoring of the crypto sector and robust enforcement of investor and consumer protection laws.</p>
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  <p>Where existing laws and regulations apply, they have to be vigorously enforced so that crypto-assets and services — and the consumers who use them — are subject to the same protections and principles as other financial products and services.</p> <cite>Graham Steele talking with the George Washington University Business and Finance Law Program</cite>
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 <p>Steele also explored the positive potential of cryptocurrencies, citing their use in cross-border payments, cost-effective settlements, and immutable ledgers.</p>
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  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Crypto regulation in 2024: forecasts and perspectives
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/us-treasury-official-calls-for-immediate-crypto-regulation-tbt77031.html">https://thebittimes.com/us-treasury-official-calls-for-immediate-crypto-regulation-tbt77031.html</a></p>

US Treasury official calls for immediate crypto regulation

TheBitTimes

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