Janet Yellen says more government oversight is needed to ward off fraudulent or illicit transactions.
One potential upside is that users would get documentation of their crypto dealings for use in filing their taxes.
In March, federal regulators accused two siblings of defrauding thousands of investors out of $124 million in unregistered securities offerings involving a digital token. “We have a strong interest in ensuring that innovation does not lead to a fragmentation in international payment architectures,” she said, adding that over the next six months, Treasury will work with the White House and other agencies to develop reports and recommendations on digital currencies.
The use of cryptocurrency and other digital assets have exploded in recent years. Surveys show that roughly 16% of adult Americans — or 40 million people — have invested in cryptocurrencies. And 43% of men age 18 to 29 have put their money into cryptocurrency.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Russian invasion will have 'enormous economic repercussions,' says Treasury Secretary Janet YellenDuring a hearing before the House Financial Services Committee, Yellen said the invasion has disrupted the flow of food to millions of people around the world and caused prices to spike.
Weiterlesen »
US Treasury Secretary Janet Yellen Warns of Global Economic Impact of War in UkraineThe US will work with the IMF and the World Bank to impose further sanctions on Russia and provide aid to Ukraine, said Janet Yellen.
Weiterlesen »
Janet Yellen warns of 'enormous' economic repercussions from war in UkraineUS Treasury Secretary Janet Yellen warned Wednesday about the economic shock waves set off by the war in Ukraine, including disruptions to the global flow of food and energy
Weiterlesen »
Yellen: Russia’s invasion of Ukraine will have ‘enormous economic repercussions’“The sanctions we’ve placed on Russia are pushing up the price of energy. It’s a price that’s important to pay to punish Russia for what it’s doing in Ukraine,” Treasury Secretary Janet Yellen said during her testimony.
Weiterlesen »
Yellen: Russia's invasion will have 'enormous repercussions'Treasury Secretary Janet Yellen has told a House panel that Russia’s actions in Eastern Europe “will have enormous economic repercussions in Ukraine and beyond.”
Weiterlesen »