Difference between above and Yellen (www.blockcast.cc)

Blockchain Today Publisher Joo-Pil Jeong

We still remember January 2018, when the cryptocurrency craze reached its peak.

At a press conference, Minister of Justice Park Sang-sang turned the market upside down by saying, “We are preparing a bill to ban virtual currency transactions” and “We are also aiming to close the exchange.” Yoo Si-min appeared on JTBC and said, “Bitcoin is a scam” and “a gambling like a sea story”.

The price of bitcoin, which had reached the 26 million won range, fell down half in a month. This is why the two became two enemies of martial arts (two enemies in martial arts) to cryptocurrency investors.

Now, three years later, Janet Yellen, the first finance minister of the Biden government in the United States, announced on January 19, “We need to consider ways to reduce the use of virtual currency.” As a result, Bitcoin, which soared to the mid 40 million won, fell to 30 million won. But soon it is rebounding.

Despite the same regulations, Bitcoin has matured and solidified for three years. In other words, I would like to compare it to a fruit that has successfully overcome cold weather.

◆ “Our Bitcoin has changed” 3 “Dragon changes”

1. Change of use

It was God’s hand that changed the appeal point from currency -> value storage. That is, the paradigm has changed not as a medium of exchange but as a means of storing value. It has been three years lost due to the stereotype of money = settlement. Now, with the features of value storage and scarcity, it has established itself as a’digital gold’.

2. Changes in terms

Virtual currency, cryptocurrency, and digital currency all contain currency. What vested interests hate the most is the act of someone challenging their vested interests, and the most sensitive area among them is the right to issue money. After some time, the term was changed to’assets’ such as virtual assets, digital assets, and crypto assets, and everything went well. It cannot but be magical.

3. Mercenary change

The leading forces in Bitcoin transactions have been replaced. If it was mainly Asian individual investors three years ago, now large global corporations and institutional investors are leading the bull market. PayPal, Facebook, JP Morgan, Fidelity, Black Rock, and Grayscale are participating. Donghak ants are also looking forward to the coin board.

As a result, between Park Sang-hee and Janet Yellen, there has been a major change in virtual assets for three years, mainly Bitcoin, and now the day has come to be used as a utility, payment method, or STO in everyday life. I think it is thanks to the block chainers who gave butter well even in the cold weather and the brothers of’Zonber’. However, we shouldn’t be disappointed without Bitcoin or Ethereum. We have coins and tokens that we create and spread. I hope you don’t lose hope by seeing a senior named Bitcoin until you harvest the fruits of the apple tree.

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US Senate, candidate for Treasury Secretary Janet Yellen ‘Unanimous’ agree (www.blockcast.cc)

Both Democrats and Republicans agree

[Blockchain Today Reporter Seo-yeon Jang] The appointment of former Federal Reserve Chairman Janet Yellen as Minister of Finance has taken a step closer.

On the morning of the 22nd (local time), the U.S. Senate Treasury Committee unanimously agreed to the appointment of Janet Yellen as Minister of Finance. Republican Senator Chuck Grassley said, “The Republicans are clearly willing to cooperate with the new Democratic administration. We hope that this case will clarify it.”

Other Republican senators also said they did not agree with Yellen’s policies, but still supported Yellen. The fact that Candidate Yellen’s support from both Democrats and Republicans seems to prove he deserves to be Minister of Finance.

On this day, a member of the Treasury Council hoped to vote for the entire Senate to appoint the candidate Yellen. But it wasn’t actually realized.

If Candidate Yellen passes the Treasury Secretary’s hearing, he will be a key member of President Biden’s administration and will serve as important presidential advice on economic issues and accounting policies. Upon final appointment, Yellen will become the first female Treasury Secretary in US history.

Candidate Yellen previously said at a Senate hearing that “we will take a big action in a coronavirus situation.” “Economists don’t always agree, but I think it’s now. Without further action, the risk will be longer and more painful. And it will hurt the entire US economy.”

Candidate Yellen was the first woman to serve as Fed Chairman in 2014-2018. As chairman, the candidate tried to normalize monetary policy. Later, the candidate’s attempts were reduced by Jerome Powell.

The cryptocurrency industry is also paying attention to the progress of the candidate Yellen. This is because Candidate Yellen has shown both support and opposition to digital assets. Candidate Yellen supported Bitcoin (BTC) and other digital assets as important innovations in global trading. By the way, the candidate also pointed out that cryptocurrency can be abused for money laundering and illegal financing.

On the last day of the Trump administration, then Treasury Secretary Steven Mnuhchin attempted to introduce new rules aimed at self-hosted cryptocurrency wallets, and his move caused serious anxiety in the cryptocurrency industry.

President Biden, wishing to say goodbye to the Trump era, has frozen many of the proposed executive orders since taking office. Regulations related to cryptocurrency wallets (proposed at the time of Manusin) are also one of the frozen administrative orders.