Treasury Secretary nominee Janet Yellen, who previously headed up the U.S. Federal Reserve, said in written testimony on Thursday that cryptocurrencies and digital assets have the potential to "improve the efficiency of the financial system." As she noted in her written remarks: "Bitcoin and other digital and cryptocurrencies are providing financial transactions around the globe. Like many technological developments, this offers potential benefits for the U.S. and our allies." "At the same time, it also presents opportunities for states and non-state actors looking to circumvent the current financial system and ... (full story)