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Biden s Treasury Secretary Considers Curtailing Use Of Cryptocurrency For Illicit Financing
KEY POINTS
In previous interviews, Yellen made clear that she is not a fan of Bitcoin
Another Biden appointee, Gary Gensler, is the former CFTC Commissioner who teaches blockchain and cryptocurrency at MIT
Treasury Secretary nominee Janet Yellen on Tuesday said cryptocurrencies are a “particular concern” especially when it comes to terrorist and other illicit financings.
During her Senate confirmation hearing, Yellen was asked by Sen. Maggie Hassan (D-N.H.) about cryptocurrencies’ potential usage by terrorists and criminals to finance their crimes. The former Federal Reserve Chairman said she believes many cryptocurrencies, at least in a transaction sense, mainly for financing illicit activities.