Treasury Secretary nominee says crypto has potential to improve the financial...
Janet Yellen added that she planned to encourage the use of digital assets for “legitimate activities.” U.S. President Joe Biden's pick for Treasury Secretary Janet Yellen may see more benefits to cryptocurrency than her previous testimony indicated. After a virtual hearing of the U.S. Senate Finance Committee held on Tuesday, Yellen hit the headlines for her answer to Democratic Senator Maggie Hassan’s question about how she would respond to “emerging financial technology” being used to fund criminal organizations and terrorists. Yellen referred to cryptocurrencies as a “growing concern”....
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"If I am confirmed, I will prioritize implementing that piece of legislation, including new regulations around cryptocurrency," said Brian Nelson. Brian Nelson, U.S. President Joe Biden’s nominee for under secretary for the Department of the Treasury’s division on terrorism and financial crimes, said he would prioritize implementing new regulations around cryptocurrency.In a Tuesday hearing of the Senate Committee on Banking, Housing, and Urban Affairs, Nelson said he would be focusing on anti-money laundering regulations if he were to be confirmed for the position in the Treasury....
Treasury Secretary Yellen says the regulatory frameworks for crypto assets in the U.S. should “support responsible innovation while managing risks.” She emphasized, “Regulation should be based on risks and activities, not specific technologies.”
Treasury Secretary Yellen on Crypto Regulation
U.S. Treasury Secretary Janet Yellen talked about crypto regulation Thursday at American University’s Kogod School of Business Center for Innovation.
“Digital assets may be relatively new, but they are part of a larger trend – the....
U.S. Treasury Secretary Janet Yellen has asked the regulators overseeing crypto assets to “act quickly to ensure there is an appropriate U.S. regulatory framework in place” for stablecoins. U.S. Department of the Treasury’s Office of Public Affairs announced Monday the outcome of the meeting of the President’s Working Group on Financial Markets (PWG) which Treasury Secretary Janet Yellen convened to discuss stablecoin regulation. The meeting, which took place Monday, was joined by the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance....
The Treasury has opened up the comment period for its self-hosted wallet requirements for another 60 days. The United States Treasury Department's now-infamous proposal to require information on crypto transfers from exchanges to self-hosted wallets is back in motion.Per a Tuesday announcement from the Financial Crimes Enforcement Network, or FinCEN, stakeholders will have another 60 days to respond to the proposal. While a marked improvement from the 15-day comment period of the original proposal, unfortunately for the crypto industry, it doesn't look like the actual terms of the proposal....
Former U.S. treasury secretary and chief economist at the World Bank, Larry Summers, says cryptocurrency will do better regulated in a sound way instead of being treated as a libertarian paradise. Larry Summers Sees Crypto Benefiting From Strong Regulation Lawrence Summers, who served as the Secretary of the Treasury in the Clinton administration and director of the White House National Economic Council in the Obama administration, talked about cryptocurrency regulation during an interview with Bloomberg Friday. A former chief economist at the World Bank, Summers is currently Harvard....