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More from Janet Yellen
The Federal Reserve simply does not have authority to supervise or regulate Bitcoin in any way.
I think it could result in faster, safer and cheaper payments, which I think are important goals.
It’s an extremely inefficient way of conducting transactions, and the amount of energy that’s consumed in processing those transactions is staggering.
It is not a stable store of value and it doesn’t constitute legal tender. It is a highly speculative asset.
I will just say outright I am not a fan, and let me tell you why. I know there are hundreds of cryptocurrencies and maybe something is coming down the line that is more appealing but I think first of...
I see the promise of these new technologies, but I also see the reality: cryptocurrencies have been used to launder the profits of online drug traffickers; they’ve been a tool to finance terrorism....