U.S. Treasury Secretary Janet Yellen said cryptocurrencies are an integral part of the future financial system while speaking about digital assets at American University’s Kogod School of Business Center for Innovation.
In her speech, Yellen pointed out that crypto has grown into a multi-trillion-dollar industry, up from around $14 billion approximately five years ago. However, she added that this rapid growth introduces a new world of opportunities and risks that would have seemed unrealistic a few decades ago.
Yellen further noted that these perks and shortcomings divide the masses, with crypto proponents pushing for the U.S. government to back off and let innovation take its course and skeptics advocating for the government to take a more restrictive approach.
According to her:
Such divergence of perspectives has often been associated with new and transformative technologies.
Things to remember while exploring crypto innovation
She added that the U.S. should keep in mind five less
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