Powell said crypto sector would benefit from more regulation
ReutersJan 29, 2025 8:27 PM
By Michael S. Derby
NEW YORK, Jan 29 (Reuters) - Federal Reserve Chairman Jerome Powell said on Wednesday the cryptocurrency sector would likely benefit from more rules to govern its conduct.
"We are not against innovation" and banks interacting with the cryptocurrency sector, Powell said at a press conference following the close of the Fed's policy meeting. But he added, "It would be helpful if there were a greater regulatory apparatus around crypto. ... That would be a very constructive thing for Congress to do.”
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