Fed Powell says he is also worried about the struggling that swollen us crypto

When they were closing members of the Senate Banking Committee about the trend of “Damanking”, which is placed the crypto industry, the Chair of the Federal Reserve Jerome Povell has said that it also takes care of the internal supervisory policies in Fed.

“I’m upset with the amount of these reports too,” Powell said Routine testimony before the banking committee of Senate Tuesday. It offered that “one theory is that banks are only very risk” about money laundering and aggressive supervision under which they do not want to be respected to customers who can stretch their requests for compliance with compliance.

“We’re determined to take a new look at it,” Powell said, who added that he “hit an increasing number of cases of what seems to be bugging.”

Republic legislators and new financial guards appointed by President Donald Trump have dedicated to special supervision so-called discussion They say that the previous administrative banking agencies have been encouraged, including Fed, Federal Corp. in the deposit insurance and COMPOLLER COMPANY OFFICE.

Powell also thanked the Courtia Lummis Senator Senator Raising on a recent charter That Fed has a policy to direct greater supervisory supervision on bankers dealing with controversial speech or activity. He said the policy was deleted from the internal handheld manual from which he came from.

Although Tuesday CRIPTO for monitoring was not a central topic in the increased hearing on Tuesday, several major issues in the industry, including stablecoins and digital currencies of Central Bank (CBDCS).

Povell said Fed supports new regulatory efforts around stablecoin – tokens designed to maintain the constant value, which was attached to the property such as the US dollar.

“Stablecoins can have a great future with consumers and businesses,” Powell said. “Now we can’t know that, but it’s important for the development of Stablecoin – in a safe and sound way that protects consumers and guards and all – that there is a regulatory framework.”

The Chairman of the American Central Bank also gave a clear response to his intentions regarding the CBDCS – a nebulous threat of digital dollars that has long worried American crypts, although no American proposal has ever been really developed. When asked if he would agree that he never started CBDC, Powell just replied, “Yes.”

The possibility of adjusting Chinese and European experiments with CBDCs has already risen in the United States in Trump and Convention Most who are It opposes loudly to such an effort.

Powell will talk again at the hearing in American representatives on Wednesday. And Cripto is set to be a prominent theme later on Tuesday afternoon at the House Financial Services Committee.

Prospects for monetary policy

There were no surprises in the comments on fed chairs on economics and interest rates.

“We’re in a pretty good place with this economy,” Powell said Its prepared remarks. “We want to move on inflation. And we think our policy rate is in a good place, and we do not see any reason to be in a hurry to reduce it.”

Feeded, of course, three times cover the rates on a total of 100 bases of points in the last four months of 2024. Years. A number of strong reports on economics and inflation, however, forced the central bank in mid-December to abrupt december the idea of ​​any future policy to economy or inflation or both showed a far greater weakness.

It is among the factors that put the shock absorber on the cripto prices in recent weeks. Bitcoin (BTC) shows further weakness of the afternoon trade on Tuesday, lower by 2.35% in the last 24 hours to $ 95,140.

Read more: Trump betrays the CRIPTO Executive Order to adopt the path of digital funds