On April 7, 2022, Secretary of the US Department of Treasury Janet Yellen joined students, faculty, and staff at the Kogod School of Business to remark on digital asset policy, following President Biden’s recent executive order, “Ensuring Responsible Development of Digital Assets.”
“I am happy to be at American University where changemakers are changing the world,” began Secretary Yellen. “Groundbreaking leaders in government, academia, and business have walked these halls.”
At the Kogod School of Business, our students and faculty engage with cryptocurrency through the Kogod Blockchain Hub and our annual Blockchain forum that unites digital asset practitioners from the private sector, government agencies, NGOs, and academic institutions.
“Rightly so, Secretary Yellen’s remarks at the Kogod School of Business indicate that cryptocurrency's far-reaching implications and opportunities affect every facet of business. This is the ‘changemaker’ our school is well prepared to understand and engage with,” said director of Kogod’s Business in the Capital Center, Jim Dinegar.
“With three to five billion internet users worldwide, and aspects of our financial lives that are managed from internet-connected devices that fit into the palm of our hands, this opens a world of possibilities and risks,” began Secretary Yellen, “making it crucial for the financial service industry to evolve in response to the advancements in computing power and connectivity.”
Biden’s executive order tasks experts across the federal government with conducting in-depth analyses to balance the responsible development of digital assets with the risks they present. Six policy objectives guide development:
“Over the next six months, the US Treasury will work with colleagues in the White House and other agencies to produce foundational reports,” continued Secretary Yellen.