U.S. Treasury Secretary Janet Yellen has reconsidered her attitude toward cryptocurrencies and changed her anger for mercy. In a recent appearance on the Squawk Box television show, she said that digital currencies have a number of undeniable advantages.

According to the U.S. Treasury Secretary, cryptocurrencies prove to be superior to their traditional counterparts, both technically and socially. Today, digital money plays a significant role in transactions between individuals and companies, as well as in investments. As Yellen noted, it is even more prevalent in the latter area.

Janet Yellen has previously been critical of cryptocurrencies. Even now that she has acknowledged their benefits, the minister still points to the likelihood of financial ruin if one is ill-considered when investing. Like most other experts, she considers the asset type to be overly volatile and also notes its widespread use in criminality.

At the end of 2021, Janet Yellen said that stabelcoins would help simplify payments and make them more efficient. However, regulation must be in place to make this happen.