Federal Reserve Chair Jerome Powell told U.S. legislators that the Fed has "no objective to prohibit" cryptocurrencies.
During his testimony before the House Committee on Financial Providers, Powell was asked to clarify his July remark that one of the stronger arguments for a central bank electronic money is that it can reproduce the duty of crypto.
Right here's Powell's full quote from July: "I think that may hold true, and I believe that's one of the disagreements that are offered for digital money," Powell said. "That, in particular, you wouldn't require stable-coins, you would not need cryptocurrencies if you had a digital united state money – I think that is among the more powerful disagreements in its favor."
This time around around, Powell specified that the Fed has "no intent to ban" cryptocurrencies.
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