U.S. Treasury Secretary Janet Yellen has admitted that there are benefits to cryptocurrency. Yellen said the Treasury Department is working on regulatory recommendations for healthy innovation. She was asked about cryptocurrency given that Russia has said it is considering accepting bitcoin as payment for energy resources. Earlier this month, Yellen revealed that the Treasury will monitor crypto to see whether it is being used to evade sanctions by Russian individuals and entities. However, a senior official with the department subsequently said that the. Treasury does not see that crypto could be used in a large-scale. way to evade. sanctions, she said. “We will continue to look at how the sanctions work and evaluate whether or not there are leakages, and we have the possibility to address them” . . .
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