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Janet Yellen Stresses Importance of Crypto Regulation, Making Sure Bitcoin Is Not Used in Illicit Transactions – Regulation Bitcoin News.

Treasury Secretary Janet Yellen has reaffirmed that it is important to ensure that bitcoin and other cryptocurrencies are not used for illicit financing.

Treasury Secretary Janet Yellen answered some questions regarding bitcoin and cryptocurrency regulation in an interview with CNBC Thursday.

I think many are used … mainly for illicit financing.” She subsequently clarified her position and promised to work with other federal regulators to implement “effective” crypto regulation.

Mastercard also announced that it will allow certain cryptocurrencies on its network, and the nation’s oldest bank, BNY Mellon, unveiled a crypto unit to provide bitcoin services.

Lummis said she met with Yellen and believes that she has an open mind on this subject.