A new policy report released to Congress from Treasury Secretary Scott Bessent on Monday (March 9) argues that if blockchain transactions can be monitored effectively and users can be identified where necessary, digital assets may be able to coexist with existing financial safeguards.

In the report, which covers the use of innovative technologies to counter illicit finance involving digital assets and is tied to the implementation of the GENIUS Act, the Treasury department described digital assets as playing a “crucial role in global innovation and economic development,” and outlined a national objective to restoring “U.S. leadership…