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Janet Yellen says using bitcoin is an 'extremely inefficient' way to transact
7 days ago - By Business Insider
Federal Reserve Chairman Janet Yellen waits for a hearing of the Joint Economic Committee on Capitol Hill, November 29, 2017.
Brendan Smialowski/AFP via Getty Images
Janet Yellen on Monday said bitcoin is an "extremely inefficient way of conducting transactions."
The Treasury Secretary expressed concern that bitcoin is used "often for illicit finance."
The comments come a day after bitcoin hit a new record of $58,042 .
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