THELOGICALINDIAN - US Treasury Secretary Janet Yellen says that the US does not accept an able framework to accord with all the altered issues airish by cryptocurrencies such as money bed-making and adulterous costs According to her there is no framework thats absolutely up to the assignment of putting in abode a authoritative framework that we charge for cryptocurrencies
Yellen Sees No Adequate Framework in the US to Deal With Crypto Issues
Janet Yellen talked about cryptocurrency adjustment at The Wall Street Journal’s CEO Council Summit Tuesday. The treasury secretary was asked, “Do you ahead regulations on cryptocurrencies?” Yellen replied:
She proceeded to name several issues she sees associated with cryptocurrencies, such as “money laundering, Bank Secrecy Act, use of agenda currencies for adulterous payments, [and] customer protection.”
Yellen acicular out that “there are several agencies that arguably accept some adeptness to abode this through regulation.” However, the treasury secretary emphasized:
“That’s a affair that’s able-bodied account addressing,” she noted.
The treasury secretary was additionally asked, “What are your thoughts on the agenda dollar?” Yellen replied: “With account to agenda currencies and axial coffer agenda currencies, I apperceive the Federal Reserve is attractive at this.” She acclaimed that “there are a lot of issues in affiliation with it,” such as “different means in which that could be formed out” and the “potential banking adherence issues associated with it.”
In conclusion, Yellen declared that “There could be an altercation for a axial coffer agenda currency,” but cautioned, “It’s article we charge to abstraction anxiously and be accurate about.”
In February, Yellen said bitcoin is “extremely inefficient” and “highly speculative.” She fatigued the accent of promised to work with added regulators to advance an “effective” authoritative framework for cryptocurrencies.
What do you anticipate about Yellen’s animadversion on cryptocurrency? Let us apperceive in the comments area below.
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