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FED Chair Jerome Powell noted the Fed’s earlier unsuccessful efforts with Congress to establish a legal framework for stablecoins during crypto’s turbulent years in 2022–2023, but observed that the climate is now shifting as lawmakers show renewed interest in regulation

FED Chair Jerome Powell stated that stablecoins are a form of money with the potential for broad appeal and that a legal framework which includes consumer protections and transparency along with robust federal oversight is needed as digital assets gain mainstream adoption

FED Chair Jerome Powel acknowledged that the Fed and other U.S. bank regulators had taken a conservative approach to crypto-related banking guidance but indicated that a loosening of these rules is likely ahead

Federal Reserve Chair Jerome Powell, speaking at The Economic Club of Chicago on April 16, 2025, emphasized the need for a stablecoin regulatory framework and indicated no intent to restrict banks' involvement with the crypto industry

FED Chair Jerome Powell emphasized that any adjustment of crypto-related banking guidance toward a less strict approach would aim to foster responsible innovation while preserving financial stability and protecting consumers from unforeseen risks

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