- Jerome Powell has disclosed that he has no intention of banning cryptocurrency in the US.
- Powell said this when he was asked to give clarity to his previous comments that CBDC’s will overcome crypto.
The US Federal Reserve chairman Jerome Powell has expressed that he does not have the intention of banning cryptocurrency in any way. Of note, Powell said this in a two-hour Financial Services Committee meeting on Thursday.
Powell disclosed all these when Rep. Ted Budd (R-N.C.) — a member of the Congregational Blockchain Caucus questioned his previous statement that central bank digital currencies (CBDC) will replace crypto. Moreover, Powell even added that authorities have to exercise greater regulatory oversight, particularly on stablecoins.