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Fed Chair Jerome Powell says banks can serve crypto clients if risks are managed adequately – TON BOT

Fed Chair Jerome Powell says banks can serve crypto clients if risks are managed adequately

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Federal Reserve Chair Jerome Powell stated that banks can serve with crypto if they manage risks effectively. He emphasized the Fed’s openness to financial innovation and addressed concerns about crypto firms accessing banking services. Powell’s speech led to optimism in the market, with Bitcoin rebounding in price. The Fed is examining the relationship between banks and crypto amid regulatory challenges. Former President Joe Biden’s alleged Operation Chokepoint 2.0 to hinder crypto industry growth prompted the FDIC to prevent banks from sidelining crypto firms. The House Committee is investigating cases of crypto firms being debanked. Bitcoin’s market cap is $2.05 trillion with a 24-hour trading volume of $47.32 billion, contributing to the total crypto market value of $3.51 trillion.

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