Fed chief said the agency’s increased attention to the cryptocurrency market
According to Jerome Powell, this is caused by the high volatility of digital assets
23.06.2022 - 10:50
289
1 min
0
What’s new? The US Federal Reserve System (Fed) is keeping a close eye on the situation in the cryptocurrency market amid high volatility in digital asset rates, the agency’s chief Jerome Powell said in a report to Congress. In his opinion, cryptocurrencies do not have a strong impact on the country’s macroeconomy, but this area needs the introduction of a clearer regulatory framework.
The full version of the report
What other statements have been made? The Fed chief stressed that many crypto assets are similar to products that exist in the capital market and the banking system, but the regulatory approach is not the same for them. The relevant government agencies should fix this, Powell believes.
In early June, Christopher Waller, a member of the Fed Board of Governors, announced the need to regulate the crypto market for retail investors. In his view, if it was only about experienced investors who are comfortable with risk, then regulation might not have been necessary.
Useful material?
Market
Earlier, the community criticized the project for its lack of transparency, which led to a sharp drop in the HYPE token price
Jan 8, 2025
Market
Rising US Treasury bond yields are negatively affecting risk assets
Jan 8, 2025
Mining
The Avalon Mini 3 is available for pre-order at $899
Jan 8, 2025
Market
The exchange obtained the documents as part of the Freedom of Information Act proceeding
Jan 6, 2025
Market
According to the preliminary plan, the free coin giveaway will take place in January 2025
Dec 27, 2024
Market
The fund’s issuer will be Donald Trump associate Vivek Ramaswamy’s Strive company
Dec 27, 2024