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ARTICLE · 18 JULY 2022

Request For Comment On Digital Assets Issued By US Treasury Department

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On July 8, 2022, the US Department of the Treasury issued a request for public comment on the responsible development and use of digital assets (the "RFC").

United StatesTechnology
Matthew Bisanz
Matthew Bisanz
Andrew Olmem
Andrew Olmem
Jeffrey Taft
Jeffrey Taft
Joseph A. Castelluccio
Joseph A. Castelluccio
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On July 8, 2022, the US Department of the Treasury issued a request for public comment on the responsible development and use of digital assets (the "RFC").1 The RFC is intended to help inform the Treasury Department as it prepares its report on digital assets required by President Biden's March 2022 executive order titled "Ensuring Responsible Development of Digital Assets" (the "Executive Order").2

Comments on the RFC are due by August 8, 2022. In this Legal Update, we provide the background on the Executive Order, summarize the RFC, and discuss how the RFC fits into the larger policy discussions on the regulation of digital assets.

Background

On March 9, 2022, President Biden signed the Executive Order, which directed a broad range of federal agencies to recommend legislative and regulatory proposals to foster the development of, and address the risks presented by, digital assets and a central bank digital currency.3 Section 5(b)(i) of the Executive Order

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This Mayer Brown article provides information and comments on legal issues and developments of interest. The foregoing is not a comprehensive treatment of the subject matter covered and is not intended to provide legal advice. Readers should seek specific legal advice before taking any action with respect to the matters discussed herein.

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