The former U.S. Federal Reserve chair said that she wanted to “curtail” the use of digital assets—amid concerns that it could be used for money laundering and the financing of terrorism. But in a written submission to the Senate Finance Committee, Yellen’s approach to Bitcoin and other digital assets seemed to be a little softer.
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Markets Report: Bitcoin recovers from $29K dip; anger at double spend claim
Troubled times for bitcoin as miner outflows combine with false rumors that the blockchain was compromised for the first time in history
Data from price trackers including CoinMarketCap and TradingView showed a problematic 24 hours for Bitcoin, which looks to end the week in a decidedly more precarious position than that in which it began on Monday.
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Markets Report: Bitcoin Falls on Biden Inauguration Amid Warning Stimulus is ‘Long-Term Negative’
A subdued start of the new presidency comes as bullishness broadly fades from cryptocurrency markets
The hours prior to Biden’s inauguration saw a rebound in a previously declining U.S. dollar, something which came in tandem with BTC/USD cementing daily losses of 7%. The largest cryptocurrency had previously spent the week ranging slightly higher, with speculation rife that a breakout was due but that the direction it could take was unclear.
