US Treasury secretary nominee concerned about links between cryptocurrencies and terrorism

Methods to combat money laundering and terrorist financing through the use of cryptocurrencies must evolve as technology advances. This was the message from US Treasury secretary nominee Janet Yellen during a Senate hearing.

Yellen voiced concern about the role of digital assets in criminal activity. She promised to keep a close eye on the industry after her appointment as head of the Treasury in the Biden administration.

“I believe we need to study ways to reduce the use of cryptocurrencies [for criminal purposes] and ensure that money is not laundered through these channels,” Yellen said.

From 2014 to 2018 she led the U.S. Federal Reserve and repeatedly criticized Bitcoin. In December 2017 Yellen called the first cryptocurrency a speculative asset.

In October 2018, the founder of the digital gift service Biterica Raz Suprovichi sent Yellen 0.0031642 BTC (about $20 at the time of the transaction).

As noted, Morgan Creek Digital co-founder Anthony Pompliano said that Bitcoin will win from Janet Yellen’s appointment as US Treasury secretary.

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