๐ฅ All cryptocurrency traders were waiting today for the US Federal Reserve Chairmanโs speech before Congress about stable digital currencies, and
#Bitcoinโฌ witnessed good increases after his statements. This is a summary and most important thing that Jerome Powell said๐
๐ข Politico reported that US Federal Reserve Chairman Jerome Powell told House Democrats that the US needs a legislative framework for stablecoins.
๐ข In his closed-door meeting Tuesday with Democrats on the House Financial Services Committee, he reportedly said he was glad negotiations were โcloseโ on stablecoin legislation, Politico reported, citing a person who was there.
๐ข Powell also said that congressional approval would be required for any central bank digital currency before the Fed would act on it.
๐ข Powell explained in his meeting with the Financial Services Committee: โWe need a framework for digital stablecoins and I am very supportive and pleased that we are close to achieving this.โ
๐ข Powell's engagement with lawmakers underscores the Fed's commitment to strong oversight in developing regulations for stablecoins and central bank digital currencies.
โIf we want to have a central bank digital currency, Congress must authorize it,โ he said on the subject of central bank digital currencies (CBDC), according to Politico. With these statements, what we were saying a month ago about the goal of $100,000 for
#btc๐ฅ๐ฅ๐ฅ is confirmed.
๐ฅ Link to register on the Binance platform ๐
www.binance.com#Write2Earn