September 29, 2022

Janet Yellen acknowledged the popularity of cryptocurrencies among Americans

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US Treasury Secretary Janet Yellen, in an interview with CNBC, stated the importance of digital assets in American investment decisions.

Yellen reaffirmed her skepticism towards digital assets due to threats to financial stability, the need to protect private investors, and the use of cryptocurrencies in illegal activities.

In the interview, Yellen also mentioned US President Joe Biden’s March executive order directing federal agencies to coordinate their efforts in regulating the cryptocurrency industry.

Recall that in December 2021, Yellen announced the necessary consensus of the authorities for the issuance of a digital dollar.

Earlier, the US Treasury issued a report on the risks associated with stablecoins. The agency saw stablecoins as a threat to investors and market integrity, and also requested tough legislative restrictions.

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