The banksters are worse than anything crypto could ever do
Yellen and her cohorts like to talk about bitcoin and crypto being used to finance illicit activities, whatever that means exactly.
Never mind the fact that multiple research firms have pointed to only a tiny amount of bitcoin transactions likely being involved in anything nefarious, including by firms that the federal government is contracting with to help catch tax evaders.
Never mind that little detail for a bit.
Banks and the banksters are enabling far more nefarious activities than anything going on crypto.
Just about every year, it's estimated that roughly $2 trillion dollars is laundered through banks.
That's trillion with a "T"!
Where's the call to reign in banks? Where's the call to ban banks? Where's the call for more regulations?
And I'm not even talking about how they can hold your money, lend it out without your approval, not have it on hand when you request it, and charge you negative interest rates and fees to use your money.
And don't even get me started on cash............
Oy vey! (I'm not Jewish, I just like the phrase) (not that there's anything wrong with it)
Anyone that is using bitcoin for anything nefarious is asking to be caught. If I am trying to keep what I am doing private the last thing I would use is an open ledger.
I don't think these politicians fully understand this.
The regulators that do understand this should actually be encouraging adoption and use of bitcoin since they have a better chance of monitoring that than they do cash.
You hear that Yellen, stop attacking bitcoin and start promoting it and you'd actually catch more of the bad guys!
No charge for this free advice I just gave you.