Sec. Yellen agrees with the FinCEN statement that entities providing ancillary services like manufacturers, developers, and miners shouldn't be subjected to Money Service Business registration.
Christopher Waller has disagreed with the Janet Yellen-led working group that wants banks to offer stablecoins, saying it would work against their promise.
Facebook has faced an uphill task bringing regulators onboard with its Diem payment system, even after pouring millions into lobbying and rebranding efforts.
Lawmakers in the United States will be creating laws around blockchain and digital currency in the near future for these reasons.
U.S. President Joe Biden has made his key appointees. How will his decisions affect the future of the digital currency industry in the United States?
Yellen was confirmed by the Senate by a vote of 84-15, underscoring the bipartisan support she receives in the sharply divided legislature.
Suggesting the government needs new tools to prevent money laundering through exchanges, Janet Yellen said many digital currencies “are used at least in a transactions sense mainly for illicit finance.”
Janet Yellen has addressed digital assets in her written testimony–her responses give us a look at how the Biden administration will approach digital assets.