Baselink: The US Government Has No Authority to "Bail Out" Bitcoin, Taxpayer Money Will Not Be Invested in Crypto Assets

BlockBeats News, February 8th. On the 4th of this month, US Treasury Secretary Yellen stated in a congressional hearing that neither the Treasury Department nor the Financial Stability Oversight Council (FSOC) has the authority to "bail out" Bitcoin, nor to require banks to purchase it as part of their reserve.

Yellen emphasized that US taxpayers' money will not be invested in crypto assets, and the Bitcoin currently held by the US government is part of law enforcement seizure assets, which is entirely different from funds managed on behalf of taxpayers.