As biden takes the white house crypto enthusiasts are watching the beginnings of the Biden administration with interest.
People are monitoring the new administration’s statements to see what would be their view regarding cryptocurrencies. On the 19th of January, the future US Secretary of the Treasury raised the subject in a way that did not reassure investors much …
Future Secretary of the US Treasury is concerned about cryptos
Unless the situation changes, Janet Yellen will be the future Secretary of the Treasury in the United States. However, during a recent exchange in the Senate, Janet Yellen briefly touched on the subject of cryptocurrencies.
To set the context, Senator Maggie Hassan questioned her about the role played by crypto in the financing of terrorist or criminal actions.
Janet Yellen answered the question by pointing out that she was indeed worried about it. She said there was a need to seriously look at this issue and take possible action.
No need to worry about the future of cryptos!
This reaction is not necessarily surprising. Indeed, Janet Yellen has never been known as a very Bitcoin-friendly person. It would even be the opposite! During her career, she held the role of director of the Federal Bank. She was particularly famous for her bitcoin skepticism, not hesitating to qualify as “Not a fan” of Bitcoin. In fact, in 2017, an image was filmed on the internet showing a person waving a “Buy Bitcoin” sign behind Janet Yellen during a broadcast of one of her speeches!
However, this is not enough to panic cryptocurrency investors. Indeed, in the midst of the COVID-19 pandemic, there is a good chance that crypto will not one of the hot topics to deal with once Janet Yellen is in office. This is what she indicated during the same speech given to the Senate on Tuesday, January 19, 2021. Janet Yellen declared that her main concern would relate to the support measures to be provided to the American people and to companies to cope with the current crisis. Janet Yellen also confirms that the current trade war against China will be another major subject that may occupy her office for some time.
Finally, another cause for optimism is the presence of Gary Gensler in the Biden administration. A former Goldman Sachs banker, Gary Gensler is not a Bitcoin skeptic. In fact, he taught cryptocurrency courses at MIT University for years