As President-Elect Biden continues to spherical out his roster of appointees, he has tapped an Obama-era chair of the Federal Reserve to steer his administration’s financial coverage.

In line with a Wall Road Journal exclusive revealed on Nov. 23, the Biden group plans to appoint Janet Yellen to function Treasury Secretary. Obama initially appointed Yellen to the Fed in 2014, the place she remained till early 2018. 

In a time period that lined up with a large growth of public information of cryptocurrencies and ended proper after Bitcoin’s dramatic 2017 bull run, Yellen was constantly essential of the area, calling Bitcoin “something however helpful” in October of 2018. 

Occasions have, nevertheless, modified dramatically in simply two years. On the finish of 2017, Yellen dismissed the notion that the Fed was wanting into issuing a digital greenback. In the meantime, over the course of 2020, the Fed clearly started taking that prospect critically.

For her half, Yellen appears to have been quiet on crypto since leaving the Fed and going to work for a assume tank. The place she stands now stays to be decided.

If accredited by the Senate, Yellen could be the primary lady to function Treasury Secretary. She is broadly seen as an average candidate, although current public statements recommend she could be way more prepared to develop spending than present secretary Steven Mnuchin, who lately drew criticism for ending a number of emergency lending applications. 

The Treasury has more and more engaged with crypto over the previous yr. Bureaus throughout the Treasury embrace the Monetary Crimes Enforcement Community, the IRS, and the Workplace of the Comptroller of the Forex, all of which routinely make headlines for the rising consideration they’re paying to the realm.