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U.S. Treasury Secretary Janet Yellen says that the collapse of crypto exchange FTX shows that the crypto industry “really needs to have adequate regulation.” She added: “It’s a Lehman moment within crypto, and crypto is big enough that we’ve had substantial harm with investors.” Treasury Secretary Janet Yellen on FTX Implosion and the Need for […]Powered by WPeMatico
U.S. Treasury Secretary Janet Yellen warns crypto is a “very risky investment,” adding that she would not recommend it to most people who are saving for retirement. However, Yellen noted that Congress could restrict the type of investments allowed in retirement accounts, including 401(k) plans. Janet Yellen on Investing in Cryptocurrencies for Retirement The topic […]Powered by WPeMatico
U.S. Treasury Secretary Janet Yellen has admitted that there are benefits to cryptocurrency. Crypto has grown by leaps and bounds and is now “playing a significant role” in the investment decisions of lots of Americans, Yellen said, adding that the Treasury Department is working on regulatory recommendations for healthy innovation. Treasury Secretary Yellen Sees Benefits […]Powered by WPeMatico
U.S. Treasury Secretary Janet Yellen says that the U.S. does not have an “adequate framework” to deal with all the different issues posed by cryptocurrencies, such as money laundering and illicit financing. According to her, there is no framework that’s “quite up to the task of putting in place a regulatory framework that we need” […]Powered by WPeMatico
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, […]Powered by WPeMatico
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 […]Powered by WPeMatico
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 […]Powered by WPeMatico
The Financial Crimes Enforcement Network (FinCEN) has issued a notice extending the comment period for its crypto wallet proposal. The extension came shortly after the U.S. Senate confirmed Janet Yellen as the new U.S. Treasury Secretary. FinCEN Extends Comment Period for Crypto Wallet Rulemaking FinCEN, a bureau of the U.S. Department of the Treasury, announced […]Powered by WPeMatico
Joe Biden’s pick to become the new U.S. Treasury Secretary, Janet Yellen, has clarified her stance on bitcoin and cryptocurrencies. This follows her remarks during a Senate hearing when she said that cryptocurrencies are mostly used for illicit financing. Janet Yellen Clarifies Her Crypto Plans Janet Yellen clarified her position on the regulation of cryptocurrencies […]Powered by WPeMatico
Janet Yellen, Joe Biden’s pick for the Treasury Secretary, has revealed her policy for cryptocurrencies, including bitcoin. She claims that cryptocurrencies are mainly used for illicit financing and their use needs to be curtailed. Janet Yellen Reveals Her Plans for Cryptocurrencies In the Senate hearing to consider Janet Yellen’s nomination as Secretary of the Treasury […]Powered by WPeMatico