On April 17, according to TechinAsia, this morning Federal Reserve Chairman Powell stated in an interview with the Chicago Economic Club that there may be a relaxation of regulatory restrictions on banks engaging in cryptocurrency business in the future. Powell reviewed the series of explosions and fraud incidents that have occurred in the cryptocurrency sector over the past few years, but pointed out that the current industry environment has become more mainstream. 'We have previously implemented fairly conservative regulatory guidance for banks—other banking regulators have been even stricter, and I believe the relevant rules will be relaxed. The Federal Reserve will promote moderate innovation based on ensuring the safety and soundness of the financial system while avoiding consumers bearing unknown risks and ensuring the safety of banks.'

Since Trump took office in January this year, federal banking regulators have been continuously adjusting their stance on digital assets. Last month, the Federal Deposit Insurance Corporation (FDIC) announced the withdrawal of the old guidance, clarifying that its regulatory agencies can 'engage in compliant cryptocurrency business' without prior approval; the Office of the Comptroller of the Currency (OCC) also stated earlier that it allows the federal banking system to participate in cryptocurrency-related activities.

Both houses of the U.S. Congress are rapidly advancing the construction of a stablecoin legislative framework. The relevant bills in the House of Representatives and the Senate have passed committee review, and Trump expressed hope to sign them into law as soon as possible. Powell stated, 'Stablecoins, as digital products that may be widely used, should be equipped with standard consumer protection measures and information disclosure requirements, which is precisely the focus of the legislative work in both houses.'