Yellen on crypto currencies

Yellen says Bitcoin is not a stable source of value and it's not legal tender. She also touched on tax evasion and money laundering concerns, but noted that wasn't the Federal Reserve's responsibility.

That's about what you would expected the Federal Reserve to say. You might have even expected her to say something harsher.

There is a limited benefit to introducing digital currencies but some central banks are studying it, she said, adding that the Fed is not seriously considering adopting a digital currency.