Forex and Crypto News

Janet Yellen opposes cryptocurrencies

15:32 11 February /2021

Former Fed Chairman and now US Treasury Secretary Janet Yellen has previously often criticized cryptocurrencies for their anonymity. She recently stated that the decentralization of Bitcoin and other coins is inhibited by the legalization of the blockchain industry.

This week, the Treasury Secretary again lashed out at BTC and noted the growing criminal use of digital currencies.

Janet Yellen noted that we live in an environment of increasing risks of fraud, money laundering, data privacy and terrorist financing.

Cryptocurrencies began to be used in criminal schemes very often. Many companies are investing in improving their security. However, these measures are not enough, therefore, the intervention of state structures is required.

The Minister of Finance once again pointed to the need to increase the transparency of data transmitted over the Internet, including information about cryptocurrency transactions.

Note that many experts and representatives of the crypto business hope that the new administration of Joe Biden will speed up the legalization of the industry, which will protect the interests of investors wishing to finance blockchain projects

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