U.S. Treasury Secretary Yellen changes tune: "Cryptocurrencies also have advantages, and payment innovation can be very healthy!"
On the 25th, U.S. Treasury Secretary Yellen stated that the role and impact of cryptocurrency in the U.S. financial environment are becoming increasingly significant, and she will strive to create a regulatory environment conducive to continued innovation.
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Formerly a skeptic of Bitcoin, Janet Yellen expressed her views on cryptocurrency in an interview with CNBC. She admitted to being "a little skeptical" about cryptocurrency, but now acknowledges that "there are benefits to it, and we need to look closely at how to encourage their use for legitimate activities."
"I have a little bit of skepticism," says @SecYellen on #crypto. "On the other hand there are benefits from crypto and we recognize innovation in the payment systems can be a healthy thing," pic.twitter.com/7N1SYxICwq
— Squawk Box (@SquawkCNBC) March 25, 2022
In 2018, Yellen publicly stated that she was "not a fan of Bitcoin" and did not like it. Her tone has since changed, now expressing only "a little bit of skepticism":
The rapid growth of cryptocurrency is an undeniable fact, playing a significant role in the investment decisions of many Americans.
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