According to the New York Times on the 22nd (local time), Minister Yellen expressed his views on the digital dollar and bitcoin, forecasting the economy after the Corona 19 pandemic, in a speech at the Dealbook DC policy project held that day.
Although digital dollars may enable faster, safer, and cheaper payments, the impact on the banking system, the role of the Federal Reserve in the operation of digital dollars, concerns about financial stability, and issues such as money laundering and illegal financing, he said. He said there were problems.
In particular, in the speech that day, Secretary Yellen clarified a negative view on Bitcoin. “I don’t think Bitcoin is widely used as a trading mechanism,” he said. “This is a very inefficient way of trading, and the amount of energy consumed to process it is huge.”
Minister Yellen also appeared on CNBC last week, warning that Bitcoin is a speculative asset.