While FED President Jerome Powell spoke at the Senate Banking Committee today, US Treasury Secretary Janet Yellen spoke at the House of Representatives Financial Services Committee.

Yellen, who has made statements on many issues, also made a statement about cryptocurrency regulations.

Fox Business reporter Eleanor Terrett shared Yellen’s crypto statements in her post.

Accordingly, in her testimony before the House of Representatives Financial Services Committee, Janet Yellen said that there is no “quarterback” (manager/coordinator) between the US Securities and Exchange Commission (SEC) and the US Commodity Futures Trading Commission (CFTC) in cryptocurrency regulation.

It is considered that this statement is related to the upcoming US elections.

While the harshness of cryptocurrency regulations and the voting potential of cryptocurrencies were discussed before the election in the USA, Yellen’s statement that “we are not involved” in crypto regulation was interpreted as support for Biden’s election campaign.

NEW: In her testimony in front of the House Financial Services Committee, @USTreasury Secretary Janet Yellen says she’s not “quarterbacking” (directing/coordinating) between the @SECGov and @CFTC on #crypto regulation. https://t.co/NT1aXbqBaN

— Eleanor Terrett (@EleanorTerrett) July 9, 2024

*This is not investment advice.