U.S. President Joe Biden’s nominee for Treasury Secretary, Janet Yellen, revealed her concern on the use of crypto for illicit financing. Speaking at a confirmation hearing with the U.S. Senate Finance Committee earlier this week, Yellen talked about the possibility of cryptocurrency becoming a tool for terrorist funding.
Speaking further, she urged the government to “curtail” crypto use and ensure that there is no anti-money laundering during crypto transactions.
Yellen has given a more explicit explanation of her view on digital assets. After stating that cryptocurrencies are cable of improving the efficiency of the financial system, she added that:
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