Janet Yellen, future Secretary of the US Treasury

Janet Yellen, future Secretary of the US Treasury, gives her opinion on cryptosystems

  • Joe Biden has chosen Janet Yellan as Secretary of the United States Treasury.
  • Janet Yellen has already given her views on cryptomoney in a hearing before the Senate.
  • The Trust Project is an international consortium of media organisations based on transparency standards.

Janet Yellen, future US Treasury Secretary, gave her views on cryptography in a hearing of Bitcoin Bank before the Senate and then in a written statement.

Negative at first glance

Joe Biden has chosen Janet Yellen for the position of Secretary of the Treasury of the United States, the equivalent of the Minister of Economy and Finance in France.

Janet Yellen served as President of the Federal Reserve (FED) under Barack Obama, and has been relatively silent on her views on cryptography since she called Bitcoin „anything but useful“ in October 2018.

Yellen told the US Senate Finance Committee that cryptography is a „growing concern“ in the United States, saying that it is used „primarily for illicit financing“ and that the US government needs to examine ways to „reduce“ the use of cryptography as part of its efforts to combat money laundering.

Then more nuanced comments

However, her written statement published today on the website of the Senate Finance Committee suggests that Yellen’s views on cryptomoney may not be as clear-cut as those remarks suggested.

While Yellen’s written statement reiterates the need to reduce the use of Bitcoin for „malicious and illegal activities“, she also said she plans to encourage the use of cryptography for „legitimate activities“.

„I think it’s important that we consider the benefits of encryption and other digital assets, and the potential they have to improve the efficiency of the financial system. »

If this appointment is finally approved, Ms. Yellen will be the first woman to hold the position of Secretary of the Treasury. An appointment that will be important for the cryptomoney market in the coming months and years.

Cardano (ADA) offers a new test environment for its smart contracts

One more milestone posed? The Cardano development team (ADA) invited smart contract developers to test its new test environment: Plutus Playground.

Cardano (ADA) offers a test environment for its smart contracts

Plutus Playground already existed in a less complete form, but this update to Cardano’s test environment goes much further, according to the IOHK release :

“In addition to providing a web simulator for writing and running smart contracts, the new Plutus Playground also allows users to access popular smart contracts that have already been written. “

The interface is separated into three sections: a smart contracts editor, a simulator, and an environment to simulate transactions. IOHK invites companies, governments, entrepreneurs and the Cardano community to take ownership of this new test environment.

IOHK also recalls that the smart contracts developed on its blockchain will have multiple uses, such as supply and traceability, medical data, voting systems, financial systems, etc.

An ADA firmly established in the top 10

Cardano has completed several milestones on its roadmap in recent months, which has garnered more investor confidence. This was therefore logically reflected in the price of the ADA , which jumped at the start of the month to exceed Bitcoin Cash (BCH) . Its capitalization of $ 10.8 billion also now allows it to overtake Litecoin (LTC), which was still in fourth place at the start of January.

The ADA price has risen for a little over a day, taking + 18%. After having crossed 0.35 dollar several times, he tries to consolidate above this threshold with which he has been playing for a week:

The next big step for Cardano is of course the Goguen era, which is expected to arrive at the start of the year. It will ultimately allow the blockchain to support smart contracts, and will mark the start of the “real” battle with Ethereum .