According to regulators, cryptocurrencies are actively used for illegal transactions.
Bitcoin is an ineffective financial instrument, due to fluctuations in the rate of which many investors can suffer. This opinion was shared by US Treasury Secretary Janet Yellen during an online interview for The New York Times.
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- According to the politician, the level of spread of bitcoin as a tool for conducting transactions is exaggerated.
- At the same time, Janet Yellen noted that despite the low, from her point of view, indicators of demand for a digital asset, it still poses a threat. She explained her opinion by the fact that bitcoin can be used to conduct illegal transactions.
- Another disadvantage of the cryptocurrency, the politician considers its high level of volatility. According to Janet Yellen, many investors could be hurt by bitcoin price fluctuations.
- Also in the interview, the US Treasury Secretary commented on the possibility of launching a digital version of the dollar in the country. Janet Yellen sees prospects in the issue of fiat in a new format. With its help, according to the US Treasury Department, many Americans will gain access to tools for conducting financial transactions.
Read also: America began testing the digital dollar
We will remind, earlier on the network there was information that Janet Yellen wants to organize a compromise approach to cryptocurrency.