Bitcoin also jumped in Musk… US Treasury Secretary Announces “Speculation” Regulation

US Treasury Secretary Janet Yellen.[로이터=연합뉴스]

US Treasury Secretary Janet Yellen fired a direct shot at Bitcoin on the 18th (local time). He mentioned the possibility of strengthening regulations, saying that investors should be protected from highly volatile cryptocurrencies.

In an interview with CNBC on the same day, Minister Yellen said, “Bitcoin is a highly speculative asset,” and “it shows a high level of volatility in recent years.” He stressed that all measures against Bitcoin should be for investor protection.

[EPA=연합뉴스]

Bitcoin’s status has recently increased. Electric car company Tesla, simple payment companies PayPal, and Mastercard accept Bitcoin as a payment method. Inflation concerns are growing, and the demand for bitcoin, referred to as’digital gold’, is also increasing. The price has risen to the 52,000 dollar mark each.

In the midst of this, the US economic command tower defined bitcoin as a’high speculative product’ and suggested regulation. Minister Yellen said, “(Bitcoin) is not used as a means of inducing transactions, and it has to be well protected for investors.” It is important.”

It’s over 52,000 dollars, bitcoin. Graphic = Kim Hyun-seo [email protected]

At the Senate approval hearing last month, he said, “I think a lot of cryptocurrencies are mainly used for illegal finance. It is necessary to consider ways to prevent money laundering.” Has been revealed.

Secretary Yelan’s concerns were not limited to cryptocurrencies. He warned of the recent boom in the US stock market, “We are in a very low interest rate environment,” and warned, “If the interest rate is too low than the valuation, the asset value will increase, which is very dangerous for investors.”

US Treasury Secretary Janet Yellen appeared on CNBC broadcast on the 18th (local time).[CNBC 캡처]

On the other hand, he said, “It is still necessary to bring the economy back to its full state.” It reaffirmed its willingness to implement the US Rescue Plan, worth $1.9 trillion (2101 trillion won) awaiting passage of the Senate. “The cost of paying too little (the size of the stimulus package) will be much higher than that of doing a lot of money,” he said.

He also mentioned the situation where 15 million Americans are currently not paying rent, 24 million adults and 12 million children are not eating enough, and small businesses are going bankrupt. In addition, he added, “It will give (to the people) a sense of relief and help the economy recover.”

Inflation concerns were also dismissed. “Inflation (prices) has been very low over the past decade,” said Yellen. “I know inflation is dangerous, but it is a risk that the Federal Reserve (Fed) has tools to address.” He added, “The greater danger is that the epidemic could permanently damage the lives and livelihoods of the people.”

Reporter Seungho Lee [email protected]