US Treasury Secretary Janet Yellen in an interview CNBC announced the importance of digital assets in the investment decisions of Americans.
“Cryptocurrency has grown by leaps and bounds, and now it plays a significant role not only in transactions, but in the investment decisions of many Americans,” she said.
Yellen reaffirmed her skepticism towards digital assets due to threats to financial stability, the need to protect private investors, and the use of cryptocurrencies in illegal activities.
“On the other hand, cryptocurrencies have advantages, and we recognize the benefits of innovation in the payment system. Ultimately, we want to issue recommendations to create a regulatory framework,” she added.
In the interview, Yellen also mentioned US President Joe Biden’s March executive order directing federal agencies to coordinate their efforts in regulating the cryptocurrency industry.
Recall that in December 2021, Yellen announced the necessary consensus of the authorities for the issuance of a digital dollar.
Earlier, the US Treasury issued a report on the risks associated with stablecoins. The agency saw stablecoins as a threat to investors and market integrity, and also requested tough legislative restrictions.
Subscribe to Cryplogger news in Telegram: Cryplogger Feed – the entire news feed, Cryplogger — the most important news, infographics and opinions.
Found a mistake in the text? Select it and press CTRL+ENTER
US Treasury Secretary Janet Yellen in an interview CNBC announced the importance of digital assets in the investment decisions of Americans.
“Cryptocurrency has grown by leaps and bounds, and now it plays a significant role not only in transactions, but in the investment decisions of many Americans,” she said.
Yellen reaffirmed her skepticism towards digital assets due to threats to financial stability, the need to protect private investors, and the use of cryptocurrencies in illegal activities.
“On the other hand, cryptocurrencies have advantages, and we recognize the benefits of innovation in the payment system. Ultimately, we want to issue recommendations to create a regulatory framework,” she added.
In the interview, Yellen also mentioned US President Joe Biden’s March executive order directing federal agencies to coordinate their efforts in regulating the cryptocurrency industry.
Recall that in December 2021, Yellen announced the necessary consensus of the authorities for the issuance of a digital dollar.
Earlier, the US Treasury issued a report on the risks associated with stablecoins. The agency saw stablecoins as a threat to investors and market integrity, and also requested tough legislative restrictions.
Subscribe to Cryplogger news in Telegram: Cryplogger Feed – the entire news feed, Cryplogger — the most important news, infographics and opinions.
Found a mistake in the text? Select it and press CTRL+ENTER
