U.S. Fed Vice Chair: "No Issue with Banks Participating in Digital Assets if Done Properly"
Summary
- Fed Vice Chair Michael Barr stated that there is no issue with banks participating in the digital asset market if done properly.
- He indicated that financial institutions supervised by the Fed can engage in digital asset activities if they take safe and sound approaches.
- Regarding de-banking, he added that there have been no cases of banking services being terminated for political reasons.
A view has emerged that there is no issue with banks participating in the digital asset (cryptocurrency) market if done through proper methods.
According to Eleanor Terrett, a Fox Business News reporter, on the 18th (local time), Federal Reserve (Fed) Vice Chair Michael Barr stated, "All banks and financial institutions supervised by the Fed are directly participating in digital asset-related activities or supporting digital asset customers. I see no problem with them engaging in digital asset-related activities as long as they take safe and sound approaches."
Regarding de-banking (inappropriate actions by banks targeting the digital asset industry, such as account freezes), he mentioned, "Personally, I have not seen any cases where banking services were terminated due to political positions."
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
