Powell Calls for Loosening Crypto Regulations, Signaling Stablecoin Compliance Breakout

Federal Reserve Chair Jerome Powell recently acknowledged the importance of cryptocurrency during a speech at the Economic Club of Chicago, emphasizing the need for comprehensive regulation. He highlighted key points regarding stablecoins: The U.S. Congress and Federal Reserve have reached consensus on a legislative framework for stablecoins, ensuring consumer protection and transparency. While previously facing regulatory deadlock, Powell sees this as an opportunity to support innovation within a structured framework. He stated that regulatory guidance on crypto could be relaxed in the pursuit of responsible development.