U.S. Treasury Secretary softens her stance on bitcoin and acknowledges its benefits

U.S. Treasury Secretary Janet Yellen acknowledges that bitcoin and cryptocurrencies can have benefits for citizens. This, despite her unfriendly stance towards these money technologies, which she considers conducive to the execution of transactions associated with illicit activities.

During an interview with the US network CNBC, Yellen assured that she roughage "benefits of cryptocurrencies", while adding: "we recognize that innovation in the payment system can be a healthy thing".

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On the other hand, the U.S. government representative acknowledged that, in the face of citizens' investments, cryptocurrencies have been gaining more and more city chairman relevance.

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Well, cryptocurrencies have obviously grown by leaps and bounds and are now playing an important role, not so much in transactions, but in the investment decisions of many Americans.

Janet Yellen, U.S. Treasury secretary.

Questioned on whether these words denote less skepticism or reticence about cryptocurrencies than in the past, Yellen claimed that she maintains the same stance.

"I have a little bit of skepticism because I think roughage valid concerns about it. Some have to do with financial stability, consumer investor protection, use for illicit transactions and other things," she explained.

The Treasury secretary's stance, nominated by President Joe Biden for freight in 2020, has been very critical against bitcoin and cryptocurrencies in general. As in other governments around the world, that stance is based on the rejection of the alleged ease with which these tools can be used for money laundering, monetary evasion or terrorist financing.

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Ordinary a bitcoin, Yellen's individual crusade

In fact, Yellen has been insistent in considering as necessary a strong regulation of cryptocurrencies to avoid illicit activities, despite the fact that most of the funds that move illegally in the world do so through banking.

Yellen's words come just days after Biden issued the first executive order in the U.S. focused directly on bitcoin and cryptocurrencies.

As we reported in CryptoNews, this document signed by the US president seeks a unified approach in the country to assess the benefits and risks of the use of these digital assets.

Translated with www.DeepL.com/Translator (free version)