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Fed chair Jerome Powell says he isn't concerned about crypto disrupting financial stability in the US
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United States Federal Reserve chair Jerome Powell hinted that though the government agency should consider monitoring developments in the crypto space, he didn’t see cryptocurrencies as a financial stability concern for U.S. markets.
Addressing a question on crypto from Michael Derby of the Wall Street Journal on Tuesday, Powell supported the conclusions of a report from the President’s Working Group on Financial Markets released on Nov. 1. The report proposed that stablecoin issuers should be subject to “appropriate federal oversight” akin to that of banks, legislation that was “urgently needed” to address risks.
“Stablecoins can certainly be a useful, efficient consumer-serving part of the financial system if they’re properly regulated,”
Read more on cointelegraph.comAbout this in other media
Here’s why Bitcoin traders expect choppy markets for the remainder of 2021 cointelegraph.com /3 years ago
U.S. Fed Chair says cryptocurrencies unlikely to disrupt financial markets ambcrypto.com /3 years ago
Derby’s Take: Powell Says Markets in Good Shape Ahead of Busy 2022 wsj.com /3 years ago
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