United States of America: Issued Treasury Report on Crypto-Assets: Implications for Consumers, Investors, and Businesses

On 16 September 2022, the United States Treasury issued a report entitled "Crypto-Assets: Implications for Consumers, Investors, and Businesses", as required by Section 5(b)(i) of Executive Order 14067 on Responsible Development of Digital Assets. The report provides a definition of crypto-assets, outlines the different types of crypto-assets and their respective tools, the current market trends and notes how consumers are currently using crypto-assets. Furthermore, the report lists the risks associated with crypto-assets, including operational risks and conduct risks faced by the general community. Finally, the report outlines the Treasury's recommendations for US institutions, noting that regulators should continuously monitor illegal and risky activity in the crypto market and regularly issue guidelines and risk profiles for consumers and businesses