“I think it would be useful if there was a larger regulatory device around the crypto,” said the president of the American central bank at the Federal Open Market Committee press conference on January 29. He added that this is something that Congress and Fed were “working on many.”
“We have actually spent a lot of time, you know, with the financial services of the house, working with them on various things, and I think it would be a very constructive thing for Congress,” he said .
The comments came while the federal reserve maintained interest rates of 4.25% to 4.5% after last week’s IPC data which showed that inflation was not as high , because many planned.
Do not demonagen customers of cryptography
Powell also said that the central bank was “not against innovation” with regard to cryptocurrencies.
Speaking of banking restrictions, he added: “We certainly do not want to take measures that would cause, you know, put an end to customers who are perfectly legal because of excessive risk aversion, perhaps linked to the regulations and supervision. “
Powell’s remarks at the FOMC first meeting in the Trump administration was concerned about the so -called “debannage” efforts have reached the highest ranks in the government.
“Banks are perfectly able to serve cryptographic customers, as long as they understand and can manage risks, and it’s healthy because they are so new.
He noted that individual investors needed better protection because the risks may not be fully understood. He also compared the crypto to the shared actions and funds, saying that similar consumer guarantees should apply.
No disagreement with Trump
The President of the Central Bank has avoided responding directly to the comments made or the actions taken by Donald Trump in recent weeks. He said that there was “no contact” with the new president, noting that disagreements would undermine the credibility of the Fed.
“We are ready to take the appropriate measures to support the smooth transmission of monetary policy, in particular by adjusting the details of our approach to reduce the size of our assessment in the light of economic and financial developments,” he declared.
More economic data is expected this week, with Friday the estimates of the growth canceled by the GDP of the fourth quarter which on Thursday and the report of personal consumer expenditure (PCE) in December and December scheduled for Friday.
The cryptographic markets were marginally during the Asian negotiation session on Thursday morning, Bitcoin leading the pack and recovering $ 105,000.
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