The Utter Futility of a Bitcoin Ban
In recent days and weeks, Treasury Secretary Janet Yellen has been raising the alarm about what she perceives to be a rising “misuse” of cryptocurrencies, which she argues are used mainly “for illicit financing” by unsavory groups. During her confirmation hearing, Yellen provided some ominous foreshadowing, saying, “I think we really need to examine ways in which we can curtail their use and make sure that money laundering doesn’t occur through those channels.” Back in December, former Acting Comptroller of the Currency Brian P. Brooks warnedconsumers to expect more crypto regulations before the end of former President Donald Trump’s term.
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