Treasury nominee Yellen is trying to curtail use of cryptocurrency

A woman in a white suit speaks at a podium.

Enlarge / Janet Yellen, Joe Biden’s nominee to be Secretary of the Treasury, at a December press convention. (credit score: Alex Wong/Getty Photos)

Cryptocurrencies might come beneath renewed regulatory scrutiny over the subsequent 4 years if Janet Yellen, Joe Biden’s decide to guide the Treasury Division, will get her manner. Throughout Yellen’s Tuesday affirmation listening to earlier than the Senate Finance Committee, Sen. Maggie Hassan (D-N.H.) requested Yellen about using cryptocurrency by terrorists and different criminals.

“Cryptocurrencies are a specific concern,” Yellen responded. “I feel many are used—at the least in a transactions sense—primarily for illicit financing.”

She stated she wished to “look at methods during which we are able to curtail their use and guarantee that [money laundering] does not happen by way of these channels.”

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