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Powell’s brief mention of crypto aligned with a rebound in Bitcoin’s price after the Federal Open Market Committee announced no immediate interest rate cuts
Both the Federal Deposit Insurance Corporation (FDIC) and the House Committee on Oversight and Government Reform are probing allegations of an initiative—dubbed “Operation Choke Point 2.0”—aimed at limiting U.S. banking access for crypto firms
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
Powell addressed concerns that crypto firms face difficulties accessing banking services, confirming the Federal Reserve does not intend to block legitimate companies from the financial system
Federal Reserve Chair Jerome Powell stated that banks in the United States may serve crypto customers as long as they properly manage the risks associated with digital assets

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