US Treasury Secretary Janet Yellen thinks that fraud cases in the cryptocurrency sector should be dealt with more strictly.
Speaking about the US government’s cryptocurrency policies, Yellen said, “The reports we prepared showed that there are too many cases of fraud and operational failure. There are some authorized institutions that have already implemented (regulations) in this area. We want to see more power given to these authorities.” said.
The Biden administration published a series of reports, one in September and one in October, on the general state of the cryptocurrency industry.
The US Treasury Secretary also talked about the relationship between the crypto money market and the general course of the economy, and said that the crypto money market has not yet does not pose a major risk in terms of financial stability. told.
Yellen says the cryptocurrency market is too big to pose such a risk right now. “not big” but this situation may change over time told. “It is possible that it will pose a risk in the future. That’s why we want the regulations in this area to be improved.” said.