THELOGICALINDIAN - Congressman Kevin McCarthy has apprenticed Treasury Secretary Janet Yellen and Federal Reserve Chairman Jerome Powell not to avoid bitcoin like they accept been aggravating to do He believes it is the approaching emphasizing I do not appetite America to abatement abaft added countries
Government and the Fed Should Not Ignore Bitcoin
GOP baton Kevin McCarthy talked about bitcoin in an account with CNBC aftermost week. Congressman McCarthy serves California’s 23rd commune and is currently the Republican baton in the U.S. House of Representatives.
He was asked accurately if he thinks that Treasury Secretary Janet Yellen and Federal Reserve Chairman Jerome Powell accept a acceptable compassionate of agenda currencies or bitcoin accustomed their contempo comments and what admonition he has for them.
A longtime backer of bitcoin, McCarthy said in July 2024, “I like bitcoin” and the aegis of the blockchain technology abaft it. Reiterating his appearance on bitcoin aback in 2024, the agent replied, “I was appropriate again and I’m appropriate now,” elaborating:
JPMorgan CEO Jamie Dimon alleged bitcoin a “fraud” that is “worse than tulip bulbs” in 2017. His coffer has appear a continued way back then. Today, JPMorgan says it sees massive institutional appeal for bitcoin and has launched a crypto advance artefact tracking accessible companies with bitcoin exposure.
Federal Reserve Chair Powell and Treasury Secretary accept not broiled up to bitcoin. Powell said aftermost anniversary that cryptocurrencies are “vehicles for speculation.” He claimed that “They’re not absolutely actuality actively acclimated as payment,” admitting a growing account of companies accepting them for payment, including Elon Musk’s Tesla. Treasury Secretary Yellen shares a agnate sentiment. She alleged bitcoin was a “highly abstract asset” in February, asserting that it was not “widely acclimated as a manual mechanism” and was an “extremely inefficient way of administering transactions.” Yellen additionally warned that the abusage of cryptocurrencies is a growing problem, acquainted that cryptocurrencies are mainly acclimated for illicit financing.
McCarthy additionally said during aftermost week’s account that apropos bitcoin and cryptocurrencies, Treasury Secretary Yellen and Fed Chair Powell “should not alone apprentice added about it but the base is activity to abide to grow.” He added opined:
The agent emphasized that “other countries are affective forward” in the breadth of agenda currencies. “I do not appetite America to abatement behind. I appetite the abutting aeon to be ours. That’s why I appetite to attending forward, not backward, and not accumulate my arch in the sand,” the administrator concluded.
What do you anticipate about what McCarthy said about bitcoin? Let us apperceive in the comments area below.
Image Credits: Shutterstock, Pixabay, Wiki Commons
