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US Treasury Secretary Yellen: Bitcoin Is A Highly Speculative Asset

Mary Liu

Summary: In the 2021 DealBook DC Policy Project, U.S. Treasury Secretary Janet Yellen stated that Bitcoin is a highly speculative asset, often be used for illegal financing and its transaction efficiency is "extremely inefficient".  Yellen mentioned digital currency may lead to faster and lower-cost payments, but many issues, including consumer protection and money laundering, still need to be ...

In the 2021 DealBook DC Policy Project, U.S. Treasury Secretary Janet Yellen stated that Bitcoin is a highly speculative asset, often be used for illegal financing and its transaction efficiency is "extremely inefficient". 

Yellen mentioned digital currency may lead to faster and lower-cost payments, but many issues, including consumer protection and money laundering, still need to be studied.

Bitcoin plummeted from last week's all-time high to below $50,000. According to Bitpush data, the price recovered to a hair over $52,000 as of press time.

By Mary Liu

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