#PowellRemarks

Federal Reserve Chair Jerome Powell recently addressed the topic of cryptocurrency regulation, with specific reference to Binance, one of the world's largest crypto exchanges. In his remarks, Powell emphasized the importance of stronger oversight and transparency within the crypto industry. He noted concerns regarding Binance’s compliance with U.S. laws, particularly anti-money laundering regulations. Powell stressed that exchanges like Binance must adhere to the same standards as traditional financial institutions to ensure market stability and investor protection. His comments come amid growing scrutiny from U.S. regulators and ongoing legal actions against Binance. Powell reiterated the Fed’s commitment to working with other agencies to develop a comprehensive regulatory framework for digital assets, highlighting the need to manage risks while fostering innovation.