U.S. Treasury Secretary Janet Yellen warned investors that they should be cautious about bitcoin, saying it is’very speculative’.
In an interview with CNBC’s economic preview program’Closing Bell’ on the 18th (local time), Minister Yellen pointed out Bitcoin as an example, saying that there are areas in which investors should be careful about investing.
He said it is understandable that the stock price has risen given the US Federal Reserve’s easing monetary policy.
However, he said that bitcoin is considered “a highly speculative asset,” and that it has exhibited high levels of volatility in recent years.
When asked if there is a need to regulate bitcoin, Secretary Yellen replied that anything could be done to protect investors.
Bitcoin also showed great volatility in the last few months, and on the 17th, it surpassed 52,000 dollars (about 5763 million won) for the first time.
“It must be certain that Bitcoin is not used as a means of driving transactions and protects investors,” said Yellen. “So it is important to regulate the institutions that trade bitcoin and ensure that they adhere to regulatory responsibilities.” did.
Recently, the adoption of cryptocurrency by financial companies is increasing significantly. Mastercard last week recognized Bitcoin as a payment method.
New York Mellon Bank (BNY Mellon), the best bank in the United States, also announced plans to launch a digital asset unit later this year and accept Bitcoin.