US Treasury Secretary: Digital currencies can bring healthy innovation to existing payment systems
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Answer US Treasury Secretary: Digital currencies can bring healthy innovation to existing payment systems
During a recent interview with CNBC, former Federal Reserve Chair Janet Yellen and current US Treasury Secretary stated that crypto could be somewhat beneficial, although she expressed some skepticism about it.
US Treasury Secretary: There are benefits from crypto:
When asked by CNBC host Andrew Sorkin if her attitude toward crypto has changed from her previously negative stance, Yellen said she was still a little skeptical.
He says, “I have a little doubt.” Tweet embed on me # encrypt. “On the other hand, there are benefits from cryptocurrencies and we know that innovation in payment systems can be a healthy thing.” pic.twitter.com/7N1SYxICwq
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– Squawk Fund (SquawkCNBC) 25 March 2022
The US Treasury Secretary also believes that crypto can bring certain benefits if used correctly.
In particular, Yellen acknowledged that innovation in cryptocurrencies could help the payment systems used by the USA and could be a healthy thing.
The positive statement from Yellen came after President Joe Biden issued the executive order in which he touched on cryptocurrencies and urged regulatory bodies about many axes and that they should be taken into account, such as:
Consumer and investor protection, financial stability, illicit financing control, US leadership in the global financial system, economic competitiveness and financial inclusion, and responsible innovation.
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