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Former Federal Reserve Chairman Janet Yellen is likely to become the next US Treasury Secretary.
The Wall Street Journal reported Monday that President-elect Joe Biden plans to appoint Yellen in the coming days, positioning the longtime economist as the successor to current Secretary Steven Mnuchin. Although Yellen didn’t say much about bitcoin, he is clearly familiar with cryptocurrency and blockchain technology and talked about both while he was still in office.
It’s unclear how Yellen might approach crypto regulations or if they’ll even be a priority. However, the Office of the Comptroller of the Currency (OCC), the Federal Reserve, the Financial Crimes Enforcement Network (FinCEN) and the Office of Foreign Asset Control (OFAC) all work closely with the Department of the Treasury or are offices within the department.
Razvan Suprovici, founder of the cryptocurrency service Biterica, gave Yellen $ 20 in bitcoin after his 2018 remarks, although at the time he said he hadn’t looked into the gift. If he had kept the funds, they would be worth around $ 60 at press time.
And of course, there was that time someone showed a “buy bitcoin” note behind Yellen while he was testifying in 2017.
