US Treasury Secretary Janet Yellen criticized bitcoin, claiming the high energy consumption of miners and the lack of efficiency in transactions.
Janet Yellen made a number of comments during the DealBook DC Policy Project event. She noted that it is unlikely that Bitcoin is often used specifically for financial transactions.
“This is an extremely inefficient way of conducting transactions – the amount of energy required to process a transaction is simply amazing!” – said the US Treasury Secretary.
Yellen also touched upon the topic of state cryptocurrencies, noting that there are still many questions when creating national digital currencies. Including, the impact on the monetary policy of the state.
“What will be the consequences for the banking system? Will this lead to a massive outflow of deposits from banks to the Fed? Will the Fed itself have to work with retail consumers or outsource it to the banks? Is there a danger to financial stability? How will we fight money laundering and the criminal use of digital currency? There are many questions and problems to consider, but it is worth it, ”said Janet Yellen.
In early February, US Treasury Secretary Yellen expressed concern about the growing problem of using cryptocurrencies for criminal purposes.
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