Janet Yellen Criticizes Cryptocurrencies, Promises to "Act Big" on Stimulus

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Tue, 01/19/2021 - 18:26
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Alex Dovbnya
Treasury secretary nominee Janet Yellen took aim at crypto for its role in financing terrorism and facilitating money laundering during her confirmation hearing
Janet Yellen Criticizes Cryptocurrencies, Promises to "Act Big" on Stimulus
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During her Senate confirmation hearing, incoming Treasury Secretary Janet Yellen said that cryptocurrencies were of "a particular concern" because of their links to terrorist financing and money laundering: 

"The technologies to accomplish this change over time and we need to make sure that our methods for dealing with these matters, with tech terrorist financing, change along with changing technology, cryptocurrencies are a particular concern." 

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The former Federal Reserve chair also voiced her support for more stimulus relief that would help to shore up the U.S. economy:     

"With interest rates at historic lows, the smartest thing we can do is act big."       

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.