Yellen Set to Give First Crypto Speech TechRadar

US Treasury Secretary Janet Yellen is expected to deliver her first speech this week on how her department views cryptocurrencies.

According to multiple media outlets, Tuesday, April 5, Yellen will speak Thursday, April 7 at 10:30 a.m. at American University in Washington, D.C.

“Secretary Yellen will advocate for a consistent and comprehensive policy framework that promotes responsible innovation of digital assets and appropriately assesses and mitigates the risks they may pose,” the Treasury Department said in a statement.

Yellen frequently criticized crypto for what she called its “malicious uses” by bad actors and terrorists when it was confirmed, though she argued it had the potential to improve the financial system. .

Read more: Yellen changes tone on crypto and shifts dial on regulatory debate

His stance also appears to have softened in recent months. In an interview last month with CNBC, she said cryptocurrencies now play a major role in American financial decision-making, although that role has little to do with payments.

“Crypto has obviously grown by leaps and bounds,” she said. “And it now plays an important role, not really in transactions, but in the investment decisions of many Americans.”

Along with acknowledging bitcoin’s entry into the investing mainstream thanks to institutional investors and large financial institutions, the Treasury Secretary changed her tone markedly when asked “where we are in the conversation. on cryptography”.

Asked about her previous views during the interview, Yellen told CNBC: “I have a bit of skepticism,” citing “valid concerns” about its impact on financial stability, consumer and investor protection, not to mention its role in “illicit transactions”. ”

The important word here is “little” — a shift that came in the wake of President Biden’s March 10 executive order calling for the rapid establishment across agencies of a single, cohesive cryptocurrency policy and a regulatory framework to support it.

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Yellen Set to Give First Crypto Speech TechRadar


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