Jerome Powell Urges Regulation of Cryptocurrency as Its Use Grows

Federal Reserve Chairman Jerome Powell highlighted the increasing mainstream adoption of cryptocurrency, noting that despite efforts to regulate stablecoins, concrete legislation remains elusive. He acknowledged consumer interest in these instruments, especially stablecoins, and called for structured oversight to safeguard against potential risks. Powell emphasized that while the Fed has maintained strict rules for banks operating in digital assets, future adjustments could be considered, but only after careful consideration of their impact on financial stability and consumer safety. The full text is available on Coindoo.