US Fed stands for crypto transaction privacy

The head of the US Federal Reserve System, Jerome Powell, believes that it is necessary to ensureConfidentiality of transactions with digital currencies. He said this during a speech in the Committee on Financial Services of the House of Representatives.

According to the official, the US economy maysuffer if the supervisory authorities strive to control all operations with cryptocurrencies. First of all, this applies to coins such as Monero and Zcash.

During a speech to parliamentarians, the head of the Federal Reserve also outlined the risks to the country's financial sector caused by the outbreak of coronavirus and an increase in the number of cybercrimes.

Morgan Creek Co-Founder Anthony Pomplianoreacted positively to Jerome Powell's statement. On Twitter, a Bitcoin supporter wrote that we are actually entering a new era when US authorities will begin to change their attitude towards the cryptocurrency industry.

BREAKING: Fed Chairman Jerome Powell just came out in favor of private transactions for digital currencies.

He specifically said «A ledger where you know everyone’s payments is not something that would be particularly attractive in the context of the US.»

Game on ??

- Pomp? (@APompliano) February 11, 2020

Although it is worth noting that the US government hasand consistent opponents of BTC. One of them is Treasury Secretary Steven Mnuchin. He believes that the first cryptocurrency has no future, and it is used mainly by criminal organizations.

The main financial instrument in the world remainsAmerican dollar, the head of the Ministry of Finance is sure. But by virtue of his position, he is simply forced to defend the current fiat system, regardless of its effectiveness and justice.

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