Janet Yellen of the U.S. suggests a solution to illegal funding of virtual assets

Cryptocurrency investment sentiment sharply declined when Treasury Minister Janet Yellen, who served as the chairman of the US central bank, the Federal Reserve System (Fed), hinted at the possibility of regulation by the US government.

Former Federal Reserve Chairman Janet Yellen, who was appointed Treasury Secretary of the administration Joe Biden, mentioned the need to restrict the use of cryptocurrencies.

According to U.S. Economic Media Business Insider, finance minister-nominee Yellen was asked about the dangers of terrorists’ use of cryptocurrency at the Senate Financial Committee approval hearing held on the 19th. A) I think it is mainly used for illegal financing.”

“We need to find a way to curb the means of financing by terrorists,” he said. “It is necessary to consider ways to reduce such use and prevent money laundering.”

American economist, professor at the University of California at Berkeley, and served as the 15th chairman of the Federal Reserve. Her husband, George Akalov, a professor of economics at the University of California at Berkeley and a Nobel Prize winner in economics, and their son Robert Akalov. She became the first female finance minister in US history and the first to serve as both the White House Economic Advisory Committee Chairman, the Fed Chairman, and the Finance Minister.


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