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Treasury Secretary Janet Yellen: US Financial Stability Risks Could Materialize, Cites ‘Dangerous and Volatile Environment’
26.10.2022
Treasury Secretary Janet Yellen has warned that financial stability risks could materialize in the U.S. Noting that “Inflation remains too high, and we are contending with serious global headwinds,” she stressed that the Treasury is “closely monitoring the financial sector,...
Top US Regulators Urge Congress to Pass Legislation on Crypto Assets
5.10.2022
The U.S. Financial Stability Oversight Council (FSOC), a group of the country’s top financial regulators, has urged Congress to pass legislation for the regulation of crypto assets. Treasury Secretary Janet Yellen said: “Crypto-asset activities could pose risks to U.S. financial...
US Treasury Delivers Crypto Framework to Biden as Directed in Executive Order
10.7.2022
The U.S. Treasury Department has delivered a framework for crypto assets to President Joe Biden, fulfilling its obligation as directed in the executive order on crypto that the president issued in March. U.S. Treasury Secretary Delivers Crypto Framework to Biden The U.S. Department of the Treasury...
President Biden Insists US Recession Is Not Inevitable — Treasury Secretary Yellen Concurs
21.6.2022
President Joe Biden and Treasury Secretary Janet Yellen say that a U.S. recession is not inevitable, dismissing the concerns of many economists who have predicted an upcoming recession. In addition, Biden insisted that the U.S. will “overcome this inflation” while Yellen admitted that...
US Treasury Secretary Yellen Warns Crypto Is ‘Very Risky’ — Unsuitable for Most Retirement Savers
12.6.2022
U.S. Treasury Secretary Janet Yellen warns crypto is a “very risky investment,” adding that she would not recommend it to most people who are saving for retirement. However, Yellen noted that Congress could restrict the type of investments allowed in retirement accounts, including...
Yellen Downplays Stimulus Contributing to Inflation, Republicans Grill US Treasury Secretary’s Decisions
9.6.2022
U.S. Treasury secretary Janet Yellen doesn’t think inflationary pressures stem from the stimulus policies enacted after the Covid-19 outbreak. While speaking to lawmakers on Wednesday, during the House Ways and Means Committee, Republicans criticized Yellen for not knowing about the risks...
SEC Chair Gensler Warns a Lot of Crypto Tokens Will Fail Following LUNA, UST Collapse
20.5.2022
The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has warned that a lot of crypto tokens will fail and many crypto investors will get hurt following the collapse of terra (LUNA) and stablecoin terrausd (UST). SEC Chair Gensler’s Warning After LUNA and...
SEC Commissioner Expects Tighter Stablecoin Regulation — Yellen Says Stablecoins Not Real Threat to Financial Stability
15.5.2022
A commissioner with the U.S. Securities and Exchange Commission (SEC) expects to see stricter regulation on stablecoins. However, Treasury Secretary Janet Yellen says stablecoins are currently “not a real threat” to the country’s financial stability. SEC Commissioner...
Rich Dad Poor Dad’s Robert Kiyosaki Plans to Buy Bitcoin When the ‘Bottom Is In’ — Says It Could Be at $17K
13.5.2022
The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, believes bitcoin could crash to $17K. However, he also believes the cryptocurrency “will win” because America is led by the three stooges. He has been recommending bitcoin to investors alongside gold...
Treasury Secretary Yellen Says Crypto Regulation Should Support Responsible Innovation, Manage Risks
8.4.2022
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...
Janet Yellen Admits Crypto Has Benefits — Says Treasury Working on Crypto Regulation
27.3.2022
U.S. Treasury Secretary Janet Yellen has admitted that there are benefits to cryptocurrency. Crypto has grown by leaps and bounds and is now “playing a significant role” in the investment decisions of lots of Americans, Yellen said, adding that the Treasury Department is working...
US Treasury Official: We Don’t See That Crypto Could Be Used in Large-Scale Way to Evade Sanctions
20.3.2022
The U.S. Department of the Treasury does not see that cryptocurrency could be used in a large-scale way to evade sanctions. “Its share as a medium for illicit finance is not anywhere as large as just using cash,” a senior Treasury official noted. Treasury Department’s View...
Biden Signs Executive Order Establishing National Crypto Policy Across 6 Key Priorities
9.3.2022
U.S. President Joe Biden has signed a “historic” executive order on crypto assets, establishing “a national policy for digital assets across six key priorities,” the White House stated. The executive order outlines “the first-ever, whole-of-government approach...
US Treasury Monitoring Crypto Use to Evade Sanctions, Says Treasury Secretary Yellen
4.3.2022
U.S. Treasury Secretary Janet Yellen says the Treasury Department is monitoring Russian efforts to evade sanctions using cryptocurrency. Four U.S. senators have written to Yellen raising concerns about Russia using cryptocurrency as a channel to circumvent sanctions. Treasury Secretary Janet Yellen...
US Senator: ‘America Competes Act’ Is a Direct Attack on Crypto Industry, Government Is Picking Winners and Losers
31.1.2022
U.S. Senator Cynthia Lummis says that the recently introduced “America Competes Act of 2022” is a direct attack on the crypto industry. “I will not stand by and let the heavy hand of the government pick winners and losers,” she stressed. Congressman Tom Emmer explained...
US Unveils Bill Giving Treasury Secretary ‘Unchecked and Unilateral Power’ to Ban Crypto Transactions, Advocate Warns
27.1.2022
A new bill introduced in the U.S. has a provision that “would essentially give the Treasury Secretary unchecked and unilateral power” to ban cryptocurrency transactions, warned crypto advocacy organization Coin Center. Treasury Secretary Janet Yellen will be able to prohibit...
Estonia Offers to Share Crypto Experience With US to Identify Best Practices for Digital Assets
11.1.2022
Estonian Finance Minister Keit Pentus-Rosimannus has offered to share her country’s experience in regulating cryptocurrencies with the U.S. in a discussion with Treasury Secretary Janet Yellen. Estonia Offers to Share Crypto Experience With the US U.S. Treasury Secretary Janet Yellen...
US Lawmakers Float the Idea of Minting a Trillion-Dollar Platinum Coin to Avoid Sovereign Debt Crisis
6.10.2021
American politicians have been clamoring about the U.S. facing a significant debt crisis and the debt ceiling putting the country at risk of default. Joe Biden spoke about the debt ceiling and told Republicans to “just get out of the way” when it comes to the decision. Meanwhile,...
US Treasury Targets Crypto Exchanges in Whole-of-Government Effort to Counter Ransomware
23.9.2021
The U.S. Department of the Treasury has taken actions targeting cryptocurrency exchanges “responsible for laundering ransoms” as part of the whole-of-government effort to counter ransomware. One cryptocurrency exchange has already been sanctioned along with related crypto addresses....
Treasury Secretary Yellen Privately Lobbies Against Tax Amendment Crypto Industry Wants: Report
7.8.2021
U.S. Treasury Secretary Janet Yellen has reportedly raised objections to lawmakers about the cryptocurrency tax amendment to the $1 trillion infrastructure bill that is supported by the crypto community. The White House subsequently announced its support for a competing amendment. Yellen Exerting...