US Treasury Secretary recognized benefits of cryptocurrencies

Digital assets can still become a threat to the stability of the state’s financial market, Janet Yellen believes

27.03.2022 - 07:00

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1 min

What’s new? US Treasury Secretary Janet Yellen told CNBC in an interview that cryptocurrencies play an important role in Americans’ investment decisions. She touched on a number of topics: the growth of the renewable energy sector, the rising inflation, and the Federal Reserve’s area of responsibility, and shared her views on digital assets.

Yellen’s interview on YouTube

What else does the Finance Minister say? According to Yellen, cryptocurrencies are innovations in the payment system that can be beneficial. She noted that digital assets are a class of highly volatile currencies that can still be a threat to the stability of the US financial market.

What had happened before? In early March, President Joe Biden issued an executive order on cryptocurrencies, in which he advocated the consolidation of all regulatory bodies. In the document, the president noted the need to mitigate national security risks associated with the illicit use of digital assets. Yellen stated that it could “result in substantial benefits for the nation, consumers, and businesses.”

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