Treasury Department Launching Crypto Education Initiative: Report

The initiative centers around informing the public about the potential risks of investing in crypto.

AccessTimeIconMar 8, 2022 at 6:33 p.m. UTC
Updated May 11, 2023 at 5:15 p.m. UTC

The U.S. Treasury Department’s Financial Literacy Education Commission will launch an initiative focused on informing the public about the potential risks of investing in cryptocurrencies, a top official told Reuters in an interview.

  • The educational materials and outreach push will include information about how cryptocurrencies work and how they differ from traditional payment formats, said Nellie Liang, Treasury undersecretary for domestic finance.
  • Liang said crypto could offer potential benefits, such as improving financial inclusion and cross-border payments. The initiative is meant to educate “without trying to stamp out new technology and new innovation,” Liang told Reuters.
  • The Treasury Department’s education department encompasses 20 different agencies, including the Securities and Exchange Commission, whose chairman, Gary Gensler, has previously referred to crypto as the “Wild West.”
  • The Treasury Department’s move comes as the Biden administration reportedly plans to issue an executive order this week detailing the government’s strategy for setting policies for and regulating cryptocurrencies.

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Brandy Betz

Brandy covered crypto-related venture capital deals for CoinDesk.