Biden administration targets crypto enforcement, digital asset rules

FILE PHOTO: Souvenir tokens representing cryptocurrency networks Bitcoin, Ethereum, Dogecoin and Ripple plunge into water in this illustration taken May 17, 2022. REUTERS/Dado Ruvic/Illustration

(Reuters) -U.S. government agencies must double down on digital asset sector enforcement and identify gaps in cryptocurrency regulation, the Biden administration said on Friday, citing their potential for misuse and harm even as it noted their growing role in global finance.

The Treasury Department will also lead a group of government agencies that will consider a central bank digital currency, although the White House stopped short of endorsing a digital dollar.