Yellen says misuse of cryptocurrency is a growing problem

Yellen says misuse of cryptocurrency is a growing problem

Yellen says misuse of cryptocurrency is a growing problem

US Treasury Secretary Yellen speaking to regulators and private sector attendees at a Treasury-hosted forum

  • says the US is seeing ‘explosion of risk’
    related to fraud, money laundering, terrorist financing and data
    privacy
  • says pandemic
    highlighted problems of ‘broadband deserts’, lack of access to
    financial services for millions of people
  • says Treasury
    can leverage financial sector innovation to combat problems, promote
    financial inclusion and improve competitiveness
  • says misuse of cryptocurrencies and
    virtual assets is growing problem 
  • cryptocurrencies
    have been used to launder profits of online drug traffickers, finance
    terrorism 

 more to come    
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