U.S. Treasury Secretary Yellen: Most activities in the cryptocurrency space are not related to financial innovation

ChainCatcher news, U.S. Treasury Secretary Yellen expressed skepticism towards cryptocurrencies, stating that there needs to be an open attitude towards financial innovations from the crypto space, while most activities in the cryptocurrency sector are unrelated to financial innovation, and cryptocurrencies require adequate regulation. She hopes to ensure that crypto assets have sufficient customer protection. The turbulence in the cryptocurrency market has not yet affected the banking sector. She expressed surprise at the collapse of FTX.

According to relevant statements, U.S. Democratic Senator Sherrod Campbell Brown called for the U.S. Treasury to develop cryptocurrency legislation following the collapse of FTX. (Jin10)