US Treasury requests public input on the risks associated with dirty money and digital assets

The public's feedback on the risks that digital assets represent to national security and illicit finance are being sought by the US Department of Treasury.

On Monday, the Treasury declared it had submitted a "Request for Comment" and was looking for opinions from the general public.

The file was made in response to US President Joe Biden's executive order from March on "Ensuing Responsible Development of Digital Assets" and was made only one week after the Treasury Department unveiled its illicit finance action plan.

In a statement, US Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian E. Nelson said: "Without appropriate controls and enforcement of existing laws, digital assets can pose a significant risk to national security by facilitating illicit finance, such as money laundering, cybercrime and terrorist actions."

"As we work to implement the Illicit Finance Action Plan, hold bad actors accountable and identify potential gaps in existing enforcement, we look forward to receiving the public’s input on this urgent work."

Comments on the whole RFC will be accepted through November 3rd, 2022.

The US DOJ has assigned more than 150 federal prosecutors to its newly established Digital Asset Coordinators Network to combat "dirty crypto," according to a report earlier this week.

Assistant Attorney General Kenneth Polite Jr. made the following comment in a statement: "Developments in digital assets have created a new landscape for criminals to exploit innovation to further significant criminal and national security threats domestically and abroad."

"Through the creation of the DAC Network, the Criminal Division and the National Cryptocurrency Enforcement Team will continue to ensure that the Department and its prosecutors are best positioned to combat the ever-evolving criminal uses of digital asset technology."

By fLEXI tEAM