🚨 Fed Chair Powell: Crypto Is Going Mainstream, Banks Expected to Engage More! 🚨
🔹 Federal Reserve Chair Jerome Powell confirmed this week that the crypto industry is “maturing” and becoming “much more mainstream,” signaling a major shift in regulatory tone
🔹 Powell expects banks to increase their engagement with crypto, emphasizing that banks are free to choose their customers and conduct crypto activities—as long as they manage risk and operate safely
🔹 The Fed recently withdrew several crypto-related advisories and removed “reputational risk” from bank supervision, addressing concerns that regulators were blocking crypto firms from banking services
🔹 Powell attributed the policy shift to the industry’s progress, improved understanding, and the Trump administration’s pro-digital asset stance
🔹 Institutional investments in crypto are surging, and new legislation like the Genius Act is paving the way for banks to use distributed ledgers for official records
🔹 Powell also highlighted the need for a legal framework for stablecoins and ongoing regulatory reassessment to support responsible innovation
🔹 The evolving stance is expected to accelerate mainstream crypto adoption and further integrate digital assets into the US financial system
This marks a pivotal moment for crypto in America, with regulators, banks, and lawmakers all moving toward a more open and supportive environment for digital assets.
https://www.ledgerinsights.com/fed-chair-sees-crypto-going-mainstream-expects-more-bank-engagement/