📢Fed Chairman Powell said that banks can provide cryptocurrency services in a safe and sound manner
Bitcoin and cryptocurrency have always been hot topics in the financial circle, but they are also accompanied by many controversies and regulatory issues.
Recently, Fed Chairman Powell said at a press conference that members of the cryptocurrency community may cheer!
Powell said that as long as banks are safe and sound in operation, they can provide cryptocurrency services to customers. He also emphasized that regulators are not opposed to innovation, nor do they want banks to stop serving legitimate customers due to excessive regulation.
However, just a few days ago, the Federal Deposit Insurance Corporation (FDIC) of the United States also sent several letters requiring banks to accept strict scrutiny when providing cryptocurrency services, and even caused some banks to suspend related services. This makes people feel that the attitude of supervision is a bit contradictory.
However, Powell's remarks may be a positive signal that regulators are gradually softening their attitude towards Bitcoin and cryptocurrency. This may mean that there will be some new opportunities in the cryptocurrency market in the future, but the premise is that it must be carried out within a safe and compliant framework. However, we must also remain vigilant, after all, the cryptocurrency market is very risky and price fluctuations are also very violent.
💬Finally, what impact do you think Powell's remarks will have on the Bitcoin market? Are the opportunities greater than the risks, or are the risks still high? Leave your opinions and views in the comment section!
