{"id":19191,"date":"2023-03-16T14:28:20","date_gmt":"2023-03-16T14:28:20","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2023\/03\/16\/bitcoin-critic-janet-yellen-to-testify-before-us-congress-about-crypto-friendly-banks\/"},"modified":"2023-03-16T14:28:20","modified_gmt":"2023-03-16T14:28:20","slug":"bitcoin-critic-janet-yellen-to-testify-before-us-congress-about-crypto-friendly-banks","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2023\/03\/16\/bitcoin-critic-janet-yellen-to-testify-before-us-congress-about-crypto-friendly-banks\/","title":{"rendered":"Bitcoin Critic Janet Yellen To Testify Before US Congress About Crypto-Friendly Banks"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<p><iframe loading=\"lazy\" src=\"https:\/\/servedbyadbutler.com\/adserve\/;ID=180936;size=320x100;setID=508113;type=iframe;click=CLICK_MACRO_PLACEHOLDER\" width=\"320\" height=\"100\" marginwidth=\"0\" marginheight=\"0\" hspace=\"0\" vspace=\"0\" frameborder=\"0\" scrolling=\"no\"><br \/>\n<\/iframe>\n<\/p>\n<p>U.S. Treasury Secretary Janet Yellen on Thursday will testify earlier than the U.S. Congress in regards to the banking disaster after regulators closed three crypto-friendly banks Silvergate, <a href=\"https:\/\/coingape.com\/tag\/silicon-valley-bank\" target=\"_blank\" rel=\"noopener\">Silicon Valley Bank<\/a>, and Signature Bank.<\/p>\n<p>Treasury Secretary Janet Yellen in a scheduled testimony on March 16 appears to be like to reassure the U.S. Senate Finance Committee that the banking system, depositors, and traders are secure. The instability within the banking sector for lengthy durations and contagion reaching different banks raises questions in regards to the regulation of the sector by regulators.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.59 --><\/p>\n<p>\u201cI can reassure the members of the committee that our banking system remains sound, and that Americans can feel confident that their deposits will be there when they need them,\u201d in line with a textual content of Yellen\u2019s ready remarks <a rel=\"nofollow noopener\" href=\"https:\/\/twitter.com\/business\/status\/1636332941310676996\" target=\"_blank\">reported<\/a> by Bloomberg.<\/p>\n<p>The regulators together with the Treasury Dept, Federal Reserve, and FDIC mentioned the motion by regulators seeks to guard depositors of the failed banks. Bitcoin critic Janet Yellen will defend the measures taken by regulators to handle the scenario and emergency funding to bailout banks. However, shareholders and debtholders usually are not protected by the federal government.<\/p>\n<h2>Regulators Blaming Crypto for Banking Crisis<\/h2>\n<p>The crypto business seeks solutions on why regulators are blaming crypto for the banking disaster within the U.S. and reducing ties with the banking sector beneath <a href=\"https:\/\/coingape.com\/operation-choke-point-2-0-crypto-banking-crisis\/\" target=\"_blank\" rel=\"noopener\">Operation Choke Point 2.0<\/a>.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.59 --><\/p>\n<p>Regulators have requested banks to submit bids for buying Silicon Valley Bank and Signature Bank, however need the customer to surrender all of the crypto enterprise.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.59 --><\/p>\n<p>Ark Invest CEO Cathie Wood and different crypto influencers assert that crypto had nothing to do with the banks\u2019 funding selections, nor the Fed\u2019s choice to extend rates of interest that induced financial institution capitulation. Crypto will transfer offshore, depriving the U.S. of blockchain and crypto improvements.<\/p>\n<p><a href=\"https:\/\/coingape.com\/price\/bitcoin\" target=\"_blank\" rel=\"noopener\">Bitcoin price<\/a> will proceed to rise amid the banking disaster as individuals strikes their cash to crypto as a result of dropping confidence in banking sector. In truth, Bitcoin was created on account of the monetary disaster in 2008 to have a decentralized monetary system.<\/p>\n<p><strong>Also Read: <a href=\"https:\/\/coingape.com\/bitcoin-price-to-hold-above-200-wma-this-time-on-chain-data-and-analysts-predict\" target=\"_blank\" rel=\"noopener\">Bitcoin Price To Hold Above 200-WMA This Time, On-Chain Data And Analysts Predict<\/a><\/strong><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.59 --><\/p>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA142562\">\n<div class=\"authorBox\">\n<div class=\"author_Name\">\n<!--\n                                      \n\n<div class=\"getAuthoname\">\n                                          \n                                                                                 \n                                       <\/div>\n\n \n--><\/p>\n<p>Varinder is a Technical Writer and Editor, Technology Enthusiast, and Analytical Thinker. Fascinated by Disruptive Technologies, he has shared his information about Blockchain, Cryptocurrencies, Artificial Intelligence, and the Internet of Things. He has been related to the blockchain and cryptocurrency business for a considerable interval and is at present overlaying all the newest updates and developments within the crypto business.                         <\/p>\n<\/p><\/div>\n<div class=\"author_Image\">\n                                             <img alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/f187fb5b7b3b0b9367ef83384cb40d5f?s=200&amp;d=mm&amp;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/f187fb5b7b3b0b9367ef83384cb40d5f?s=400&amp;d=mm&amp;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" loading=\"lazy\" decoding=\"async\"\/>                                       <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD142562\">\n<p>  The offered content material could embody the private opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn&#8217;t maintain any duty on your private monetary loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/coingape.com\/bitcoin-critic-janet-yellen-to-testify-before-us-congress-about-crypto-friendly-banks\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] U.S. Treasury Secretary Janet Yellen on Thursday will testify earlier than the U.S. Congress in regards to the banking disaster after regulators closed three crypto-friendly banks Silvergate, Silicon Valley Bank, and Signature Bank. Treasury Secretary Janet Yellen in a scheduled testimony on March 16 appears to be like to reassure the U.S. Senate Finance 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