US Federal Reserve (Fed) Chairman Jerome Powell spoke about cryptocurrencies and digital currencies.
According to information provided by Politico, Jerome Powell recently met with Democratic representatives in the House Financial Services Committee and stablecoin legislation commented.
Cryptocurrency investors are heavily involved in entering and exiting the market. stablecoins uses. In total $138 billion stablecoin market has not yet developed in the US fully edited not.
Last year, the Financial Services Committee ruled that stablecoins be included in the same coverage as traditional financial companies He approved a bill providing for However, the bill has not received full approval from the parliament.
Fed Chairman Powell during the meeting “We need a framework for stablecoins.” He said and the studies carried out in this field “very supportive” he stated. Powell also commented on the end of the process. “I’m glad they’re getting closer.” added.
Besides stablecoins central bank digital currencies Speaking about (CBDC), Powell said, “If we are going to have a CBDC, Congress needs to authorize it. “We are not supporters of this, but we have not made a decision about recommending CBDC to Congress.” said.