US Treasury Secretary-designate Yellen targets cryptocurrencies
US Treasury Secretary Janet Yellen. (Photo: vasilis asvestas / shutterstock)
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US Treasury Secretary-designate Janet Yellen has expressed criticism of cryptocurrencies during a questioning before the Senate. They are a dangerous vehicle for terrorist financing.
In a video conference future US Treasury Secretary Janet Yellen answered questions from the Senate Treasury Committee on January 19. The main focus of the hearing was on plans to help free the US economy from its corona economic crisis. But cryptocurrencies were also mentioned.
When asked by Senator Maggie Hassan what importance the former President of the Federal Reserve attaches to cryptocurrencies in the fight against terrorist financing, Yellen replied, “I think that many cryptocurrencies, at least in the sense of transactions, are mainly used for illegal financing, and I think that we really need to investigate ways in which we can limit their use and ensure that money laundering does not go through these channels. “
The statements are particularly important against the background of the attack on the Capitol. Like the blockchain company Chainalysis proven has made significant Bitcoin donations from France to various right-wing extremist organizations that are said to have been involved in the storming of the parliament building.
But even without this incident, Yellen’s stance towards cryptocurrencies is by no means new. Bitcoin and Co are repeatedly written off as popular vehicles for money laundering and terrorist financing. It remains to be seen whether Yellen will pay particular attention to its regulation during her tenure.
The economist has yet to be formally confirmed as finance minister by the Senate and would be the first woman ever to hold office.
author of the article Moritz is wire.
