According to a Q&A released by the U.S. Senate Finance Committee on the 21st (local time), nominee Yellen said,’Do you think digital currency-related technologies such as Bitcoin will be a threat to US national security? I was asked, “Do you think we should put in place appropriate protection regulations for cryptocurrency and digital currency?”
“I think it’s important to consider the benefits of cryptocurrency and digital currency,” said Yellen. There is a potential to increase the efficiency of the financial system.” “At the same time, I know that it can be used for terrorist financing, money laundering, and harm to the security of the United States and the international financial system,” he said. “I think we should support legal activities but reduce illegal activities.”
“If confirmed (as Finance Minister), we will work closely with the Federal Reserve, as well as federal banks and regulators, to discuss how to implement an effective regulatory framework for fintech innovation (including cryptocurrencies and digital currencies). I thought” he added.
CoinDesk reported, “The remarks submitted in writing this time are slightly different from the reply that Yellen verbally said at the hearing site,’I think cryptocurrency is being used to finance illegal terrorism.’ The U.S. Senate held a hearing for approval of the cabinet of the Biden administration from the 19th, but at the hearing on the 19th, Yellen replied as above.
After Yellen’s remarks became known, bitcoin fell, and the domestic cryptocurrency-related community aroused anxiety, saying, “In 2017, you are the one of Park Sang-hee, and in 2021, you are the one of Yellen. In Yelan’s answer, which is left as an official record, it seems that he is approaching cryptocurrency in principle, not negatively.