Powell called for a stronger crypto regulatory framework, suggesting that additional oversight from Congress would help address household risks and provide clearer guidelines for digital asset activities

Event date

Jan 29, 2025 - 12:00am

Quotes that support claims

Powell added that the Fed’s role in examining the relationship between banks and crypto is to analyze banks. He also acknowledged the industry’s regulatory challenges and said “a greater regulatory apparatus” would be helpful.

“I do think it would be helpful if there were a greater regulatory apparatus around crypto, and I think that’s something that Congress was working on quite a lot. We’ve actually spent a lot of time with members of Congress working together with them on various things, and I think that would be a very constructive thing for Congress to do.”