#PowellRemarks

Powell from the Fed stated that he is also concerned about debanking, which is straining Crypto in the US

While Crypto companies and their new allies in the government are opposing American regulators for pushing them out of the banking sector, Powell says that such stories are concerning and he will address this issue.

Chairman of the Federal Reserve Jerome Powell committed to addressing the so-called "debanking" of legitimate business sectors, including digital assets, during Senate hearings.

• Powell also suggested that Crypto stablecoins "may have a great future," and he supports efforts to regulate them.

• The Fed Chairman stated that the economy is in good shape and sees no reason to rush into further rate cuts. Bitcoin is showing continued weakness, having dropped more than 2% on Tuesday.