The US Treasury Department is going to educate people regarding Cryptocurrencies and their various benefits and risks. The main aim of this initiative is to spread crypto knowledge in the mainstream.
Currently, the crypto market, unlike other investment alternatives like stocks, mutual funds, etc. remains a niche subject, catering to a very small and technical group of people.
The initiative by the Treasury department aims to change that. The Financial Literacy Education Commission of the treasury will educate the people regarding the working of crypto assets and their differences from other modes of payment.
The target audience of this campaign would be those people who have limited financial access to various conventional and mainstream form of payments and finance.
Nellie Liang, Treasury undersecretary for domestic finance, said in an interview, "We're hearing more and more about investors and households who are purchasing crypto assets, and we recognize the complexity of how some of these assets operate."
Crypto and other digital assets, as of 2021, consist of about 14% of the total assets to be invested in by the U.S. citizens. This makes it even more important to educate and inform the public, as well as the present investors, about the things they need to be careful about.
Fortunately, the current administration led by President Biden has decided to approach the matter positively. Rather than banning or restricting the use of cryptocurrencies and Blockchain technology, they have decided to find some way to regulate it.
While there is still a lot of work yet to be done on the matter, it brings a moment of joy and relief to see a large part of the world slowly but surely embracing new technologies like crypto and blockchain, regulating them in a good way so that these technologies can benefit the masses, rather than completely closing their doors on them.
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