US approves vision for cryptocurrency regulation

The U.S. Treasury Department has presented a document that sets the boundaries of interstate cooperation in the field of digital assets.

The US Treasury Department has outlined the framework for international cooperation in the field of cryptocurrency regulation, according to the department’s website. The decree, submitted to US President Joe Biden, establishes a framework for interagency cooperation with foreign colleagues and at intergovernmental forums.

According to the Treasury Department, the main goal of the interaction is to ensure that cryptocurrency activities are consistent with «America's core democratic values.»

The department has set the program’s goals as protecting consumers in the US and around the world by promoting technologies and standards that reflect US values and countering foreign adversaries' attempts to implement standards and promote their own protocols.

The White House has been working on a national strategy on cryptocurrencies since January. And in early March, the Biden administration called on cryptocurrency exchanges to provide guarantees that Russian individuals and organizations under sanctions will not be able to use digital currencies to circumvent restrictions.