US Government Worried Crypto Can Shift Power to Private Sector

Kevin Helms in –

Cryptocurrency is one of the top issues for the U.S. Treasury. Particularly, the Treasury is worried decentralized cryptocurrencies can shift some functions away from the government to the private sector and raise the issue of self-government, according to Deputy Secretary of the Treasury Justin Muzinich.

Muzinich discussed the Treasury’s priorities at the annual conference of the Bank Policy Institute (BPI) in New York last week. One area he focused on was payments, particularly cryptocurrencies. While acknowledging the value of innovation and welcoming efficiency improvements, he said:

Decentralized privately-issued digital currencies are not simply a means of payment, but, depending on their structure, can shift some functions traditionally performed by government to the private sector.


Note: If you are interested in Bitcoin or other crypto currencies, you may want to check Bitcoin Bulletins, which is published daily by Ken Feltman of Radnor Reports.

About Radnor Reports

Ken Feltman is past-president of the International Association of Political Consultants and the American League of Lobbyists. He is retired chairman of Radnor Inc., an international political consulting and government relations firm in Washington, D.C. Known as a coalition builder, he has participated in election campaigns and legislative efforts in the United States and several other countries.
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