What USA’s Most Powerful Treasury Secretary Candidate Janet Yellen Says About Bitcoin

coinputin.com – Former Federal Reserve Governor Janet Yellen is likely to become the next US Treasury Secretary. looks like.

The Wall Street Journal reported earlier that President Joe Biden plans to nominate Yellen for the seat vacated by Steven Munchin in the coming days. While Yellen hasn’t said much about Bitcoin, he’s clearly familiar with cryptocurrency and blockchain technology, and has spoken of both while still on duty. Now let’s take a look at Yellen’s statements compiled by CoinDesk.

Personal Testimonials About Bitcoin

October 2015: “We do not interpret Bitcoin’s popularity as having anything to do with the public’s view of the Federal Reserve’s monetary policy behavior.”

December 2017: “It is not a stable store of value and does not qualify as a legal tender. It’s a very speculative entity. “

October 2018: “I’ll just say I’m not a fan and let me tell you why. I know there are hundreds of cryptocurrencies. But above all, there are very few transactions actually handled by Bitcoin, and most of them are illegal. “

Bitcoin and Regulations

February 2014: “The Fed has no control over or regulate Bitcoin in any way.”

October 2015: Yellen says the US financial regulators “should not hinder innovation”.

December 2017: “… The Fed does not play any role with Bitcoin except to ensure that the banking institutions we oversee are careful that they properly manage any interactions with participants.”

Opinions About Blockchain

September 2016: “[Blockchain] can have very significant effects on the payment system and running the business.”

January 2017: “[Blockchain] is a very important new technology that can have an impact on the way transactions are handled across the financial system.”

It is unclear how Yellen will approach crypto regulations or whether they will be a priority. Razvan Suprovici, founder of the cryptocurrency gift service Biterica, gave Yellen a $ 20 BTC gift after her statements in 2018, but Yellen said she could not look at the gift at the time. If Yellen has the funds, it is profitable now.

And of course, another piece of news that we shouldn’t miss: During a press release by Yellen in 2017, someone was carrying a “Buy Bitcoin” banner behind her.

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