Bitcoin (BTC) Rises Above $41,000 After Yellen’s Crypto Statement Is Released

US Treasury Secretary Janet Yellen’s statement on President Joe Biden’s executive order on digital assets talks about efforts to support innovation while addressing risks in the industry.

Bitcoin (BTC) was bullish in the early hours of Wednesday. This came after the statements of US Treasury Secretary Janet Yellen were accidentally published prematurely. Yellen’s statement was published the day before and was quickly deleted. The statement included details of Biden’s forthcoming executive order: Calling for a “coordinated and comprehensive approach to digital asset policy.”

Yellen’s statement included statements that the executive order “could bring significant benefits to the nation, consumers and businesses”, while also “addressing the risks associated with illicit financing, protecting consumers and investors, and addressing threats to the financial system and the broader economy.” will prevent”. Yellen also outlines the Treasury Department’s next step in learning to understand and regulate digital assets. “Under the executive order, the Treasury will partner with its cross-agency colleagues to produce a report on the future of money and payment systems,” Yellen said in a statement.

After the publication of these statements, the price of Bitcoin (BTC) increased. According to Coinecko, at the time of writing, the rise and prices were as follows:

The White House’s long-awaited executive order on cryptocurrencies, the wealthy Russians to get rid of the economic sanctions imposed by the West. It has attracted a lot of attention lately, thanks to speculation that it could use Bitcoin and stablecoins for As such, several analysts are worried that the Biden administration will take a hard line on the burgeoning crypto industry. While Yellen’s comments reveal a balanced approach, concerns remain about the use of crypto for illegal financing.