Warren says Yellen left no room for ambiguity in ‘speculative’ Bitcoin comments – CoinDesk

Democratic Sen. Elizabeth Warren supported the latest comments bitcoin by Minister of Finance Janet Yellen during an interview with CNBC’s Squawk Box on Tuesday.

Asked if she agreed comments says the cryptocurrency was a “speculative” asset made by Treasury Secretary Janet Yellen in late February, the senator said something nice: “I think Janet is a really smart woman.”

When she was pressured, she said, “‘Speculative by nature and will end badly’ – I do not think Janet left much room for ambiguity.”

CNBC’s host also made it clear that Yellen had actually said that bitcoin could “end badly for some.”

The subject of bitcoin was raised as a potential potential problem for a new “wealth tax” – proposed by Warren and Senator Bernie Sanders on Monday – where rich individuals would be charged 2% annually on their net worth over $ 50 million and 3% over $ 1 billion.

Yellen has been an outspoken critic of cryptocurrencies, calling them a “growing problems“And cites their use in illegal activities such as drug trafficking and terrorist financing. But she also said that cryptocurrencies have the potential to “improve the efficiency of the financial system. ”