In recent comments made to CNBC, U.S. Secretary of the Treasury Janet Yellen demonstrated misunderstanding, and perhaps fear, of Bitcoin.
U.S. Treasury Secretary Janet Yellen has warned about the dangers of bitcoin as the price of the cryptocurrency took a nosedive. She sees bitcoin as a highly speculative asset and is worried about potential losses investors can suffer. Yellen also believes that bitcoin is not widely used as a transaction mechanism due to its inefficiency, […]
She still questioned how regulators would “manage money laundering and illicit finance issues” with digital currencies.
Fresh criticism from the U.S. treasury secretary fuels an already fierce correction, briefly taking Bitcoin to $47,400 lows.
U.S. Treasury Secretary Janet Yellen has reaffirmed that it is important to ensure that bitcoin and other cryptocurrencies are not used for illicit financing. In addition, she stresses the importance of regulating institutions that deal with bitcoin. Janet Yellen Claims It’s Important to Make Sure Bitcoin Is Not Used for Illicit Financing U.S. Treasury Secretary […]
Janet Yellen, the new U.S. Treasury Secretary, has warned about “a growing problem” from “the misuse of cryptocurrencies.” She emphasized that “cryptocurrencies have been used to launder the profits of online drug traffickers; they’ve been a tool to finance terrorism.” Janet Yellen Warns of Cryptocurrency Risks The U.S. Department of the Treasury hosted its inaugural […]
The private sector invests enormous resources to help the government combat crypto crimes, U.S. Treasury Secretary Janet Yellen said.
“I see the promise of these new technologies, but I also see the reality: cryptocurrencies have been used to launder the profits of online drug traffickers; they’ve been a tool to finance terrorism,” Yellen said.
As bitcoin continues to garner attention from investors and regulators alike, inevitable regulation should be focused on helping the former.
The post Balancing Calls For Bitcoin Regulation While Preserving Satoshi’s Dream appeared first on Bitcoin Magazine.
Pro-bitcoin U.S. Senator Cynthia Lummis has been appointed to the Senate banking committee. She has been talking to Janet Yellen and has outlined her plans to help the new Treasury Secretary and other U.S. lawmakers understand that bitcoin is a great store of value. Lummis says that Yellen has an open mind on this topic […]