Powell Greenlights Crypto Services—But With Strings Attached
Fed Chair Jerome Powell just threw crypto a bone—with regulatory teeth.
The central bank chief endorsed digital asset services under strict oversight, signaling cautious acceptance of the industry's role in finance. No free passes here—Powell's framework demands compliance, transparency, and enough red tape to make a DeFi maximalist shudder.
Key conditions? Think anti-money laundering protocols, investor protections, and enough reporting requirements to keep an army of compliance officers employed. The Fed isn't handing out blank checks—just supervised access to the financial system.
Wall Street's already salivating at the prospect of 'regulated crypto' products—because nothing juices adoption like institutional approval (and the fees that come with it).
One step closer to legitimacy—or just another way for TradFi to co-opt the revolution? Either way, the rules of the game just got clearer.
In a major classification of the Federal Reserve’s stance on digital assets, Fed Chair Powell has stated that US Bank are permitted to engage with digital currency companies- as long as they maintain proper risk management and consumer protection protocols.&nbs... Read More
