The US Treasury launches a cryptocurrency awareness program as an attempt to educate users on digital assets. An official from the department said they are just trying to raise awareness without ruling out new technology and innovation. This is a very positive step and shows that the US is serious about cryptocurrencies. Also, note that the awareness program comes after the executive order by Biden, which was also favorable to cryptocurrencies.
US Treasury launches cryptocurrency awareness program
The reports on the US Treasury launching a crypto awareness program were reported by Reuters referring to an interview with Nellie Liang. Nellie says that more and more investors are purchasing crypto assets now, and they recognize how complex a lot of these things can be. Therefore, they felt it could be an area where creating awareness would be a good idea. And this is right; with more people understanding cryptocurrencies, there will be fewer scams, less investors will fall prey to meme coins, and the overall growth of the industry will be better.
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The Treasury’s education commission will create content on crypto assets and reach out to investors. The education commission includes various units and agencies of the government. For example, the SEC, FDIC, and more. The authorities will target investors who do not have access to mainstream financial services and have little knowledge about crypto. They will explain how crypto works and its difference when compared to other payment methods.
The reason for this campaign is simple. Even the Treasury understands the benefits of digital assets despite the risks involved in the same. For example, banking the unbanked or easy cross-border payments.
The US wants to be a leader in this space
Biden has already cleared that they are taking cryptocurrencies seriously with the executive order. They have addressed that crypto is an integral part of the economy. At the same time, they haven’t gone all-in with regulations and are taking things slow. And now, the crypto awareness program is yet another step in that direction.
What are your thoughts as US Treasury launches a cryptocurrency awareness program? And do you think this will help educate the unaware population efficiently? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.
Also Read: Canadian police seizes Bitcoin worth $28 million from an ex-government employee.
