Close Menu
Cryprovideos
    What's Hot

    $400,000,000 Coinbase Hack Linked to India-Primarily based Worker Caught Taking Images of Pc Display: Report – The Every day Hodl

    June 4, 2025

    XRP Ledger battles inflow of rip-off crypto tasks as Ripple eyes world monetary position

    June 4, 2025

    Floating-Level 8: Revolutionizing AI Coaching with Decrease Precision

    June 4, 2025
    Facebook X (Twitter) Instagram
    Cryprovideos
    • Home
    • Crypto News
    • Bitcoin
    • Altcoins
    • Markets
    Cryprovideos
    Home»Crypto News»Powell says Fed has no intention of stopping banks from providing crypto companies
    Powell says Fed has no intention of stopping banks from providing crypto companies
    Crypto News

    Powell says Fed has no intention of stopping banks from providing crypto companies

    By Crypto EditorFebruary 12, 2025No Comments3 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email


    The Federal Reserve (Fed) chairman, Jerome Powell, stated that the central financial institution regulator doesn’t wish to forestall banks from serving crypto to completely authorized prospects so long as they perceive its dangers. 

    Throughout a Feb. 12 Home committee on financial coverage, Powell stated banks and the Fed needs to be “aware” that crypto actions could be achieved inside monetary establishments, citing custody as one instance. Nevertheless, he warned banks to keep away from going too far of their choices.

    He added:

    “In truth, in Fed-regulated banks, there are loads of crypto actions occurring now. They only occur underneath a framework we [the Fed] made certain the financial institution understood, and we understood, precisely what they’re doing.”

    The remarks got here after the Fed chair was requested if a crypto collapse may have an effect on the US banking system and if there are any methods to keep away from it.

    Anti-contagion measures

    Powell was additionally questioned concerning the Silicon Valley Financial institution (SVB) and Signature Financial institution incidents. Each banks collapsed in March 2023 resulting from a mix of things, similar to a scarcity of diversification, a decline within the worth of their investments in long-term US Treasuries, and a financial institution run.

    The banks have been identified to be crypto-friendly, with Circle holding $3.3 billion of its USD Coin (USDC) reserves with SVB when it collapsed. 

    Nevertheless, Powell didn’t point out crypto in his reply, attributing the collapse to publicity to lengthy positions in underwater securities and unsecured deposits.

    Moreover, he stated the Fed reanalyzed investments made by medium-sized banks which have “any traits” much like Signature and SVB, to make sure they weren’t uncovered to the identical dangers in an effort to keep away from a wider contagion.

    Open to innovation

    Notably, that is the second time in a month that Powell has confirmed that banks can supply crypto companies to their prospects.

    Throughout his speech following the ‎Federal Open Market Committee (FOMC) assembly, he stated that the Fed isn’t all in favour of invading the connection between banks in crypto. In these circumstances, he added that the Fed’s position is to a lot analyze banks.

    He additionally acknowledged that the “threshold has been a bit greater for banks participating in crypto actions,” justifying the additional scrutiny because of the market’s novelty.

    However, Powell highlighted that the Fed stays open to innovation in monetary markets. He additionally stated on Feb. 11 that the US is not going to challenge a central financial institution digital forex (CBDC) so long as he’s the Fed’s chairman.

    Talked about on this article
    Powell says Fed has no intention of stopping banks from providing crypto companiesPowell says Fed has no intention of stopping banks from providing crypto companies



    Supply hyperlink

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    $400,000,000 Coinbase Hack Linked to India-Primarily based Worker Caught Taking Images of Pc Display: Report – The Every day Hodl

    June 4, 2025

    XRP Ledger battles inflow of rip-off crypto tasks as Ripple eyes world monetary position

    June 4, 2025

    Crypto Funds Agency MoonPay Secures New York BitLicense – Decrypt

    June 4, 2025

    Why BlockDAG Is the Prime Presale Crypto: 150M Day by day Bonus Beats SPY & PEPETO

    June 4, 2025
    Latest Posts

    Semler Scientific Acquires 185 Bitcoin, Growing Complete Holdings To 4,449 BTC

    June 4, 2025

    Worth predictions 6/4: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, SUI, HYPE, LINK

    June 4, 2025

    Armstrong, Musk Slam U.S. Debt, Warn of Bitcoin Shift – Bitbo

    June 4, 2025

    Reality Social Seeks to Launch Spot Bitcoin ETF through NYSE Arca

    June 4, 2025

    An settlement in South Korea: new treasurer for Bitcoin

    June 4, 2025

    Shockingly Bullish Bitcoin Value Prediction Made by Legendary Enterprise Capitalist

    June 4, 2025

    South Korea’s new president races to approve Bitcoin ETFs for 16 million merchants

    June 4, 2025

    Moscow Trade Launches Bitcoin Futures For Certified Buyers

    June 4, 2025

    CryptoVideos.net is your premier destination for all things cryptocurrency. Our platform provides the latest updates in crypto news, expert price analysis, and valuable insights from top crypto influencers to keep you informed and ahead in the fast-paced world of digital assets. Whether you’re an experienced trader, investor, or just starting in the crypto space, our comprehensive collection of videos and articles covers trending topics, market forecasts, blockchain technology, and more. We aim to simplify complex market movements and provide a trustworthy, user-friendly resource for anyone looking to deepen their understanding of the crypto industry. Stay tuned to CryptoVideos.net to make informed decisions and keep up with emerging trends in the world of cryptocurrency.

    Top Insights

    Ripple vs. SEC: Authorized Consultants Predict Settlement May Be Close to

    February 25, 2025

    Binance Coin (BNB) Value Prediction for March 14

    March 16, 2025

    Crypto Foyer Secures Main Victory as Sherrod Brown Loses Senate Seat in Ohio – Decrypt

    November 6, 2024

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    • Home
    • Privacy Policy
    • Contact us
    © 2025 CryptoVideos. Designed by MAXBIT.

    Type above and press Enter to search. Press Esc to cancel.