Chair Powell: "Cryptocurrency is integrating into mainstream finance... Possibility of easing bank regulations"
JH Kim
Summary
- Jerome Powell, Chair of the Fed, reported that cryptocurrency is integrating into the mainstream financial system.
- He stated that bank regulations related to cryptocurrency are expected to be partially eased.
- The Fed is working with Congress to establish a legal framework for stablecoins.
On the 16th (local time), according to Reuters, Jerome Powell, Chair of the Federal Reserve (Fed), stated, "Cryptocurrency is gradually integrating into the mainstream financial system," and "It is expected that bank regulations related to cryptocurrency will be partially eased."
He continued, "The Fed is working with Congress to establish a legal framework for stablecoins," adding, "As stablecoins can be widely adopted, measures for consumer protection must be in place."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
