Treasury Secretary Nominee Janet Yellen Touts Crypto 'Benefits,' with Regulation
Janet Yellen, President Joe Biden's nominee for U.S. Treasury Secretary, softened her comments of Bitcoin and other crypto-currencies, but said additional regulations are needed.
"I think many (crypto-currencies) are used, at least in a transaction sense, mainly for illicit financing," Yellen said last week. "I think we really need to examine ways in which we can curtail their use and make sure that money laundering doesn't occur through those channels."
But Yellen, named by President Barack Obama to head the U.S. Federal Reserve, lightened her stance on crypto currencies during her Senate Finance Committee hearing, noting they also offer some benefits.
"Bitcoin and other digital and crypto-currencies are providing financial transactions around the globe," she told the committee. "Like many technological developments, this offers potential benefits for the U.S. and our allies."
https://www.msn.com/en-us/money/markets/treasury-secretary-nominee-janet-yellen-touts-crypto-benefits-with-regulation/ar-BB1d4Otq?li=BBnb7Kz
Bitcoin - The prefered currency of those who would infect your computer with ransomware.
