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Topic-icon Fed Chair Doesn't Worry Crypto Destroys US Finances

Fed chair looks at digital money SLOTXO not a factor that destabilizes the US financial stability Pointing to create diversity in the market in the future If government agencies are closely supervising

December 16, 2021 The Wall Street Journal reports an interview with Federal Reserve Chairman Jerome Powell. On the issue of cryptocurrencies Mr. Jerome commented that

He did not view cryptocurrencies as a factor that could undermine US financial stability. He said that cryptocurrencies would benefit the movement of consumers. This will help to diversify the market in the future. If there is close supervision of the relevant agencies

Mr Powell's interview This is consistent with the results of the President's Financial Markets Working Group report. which was published on Nov. 1, indicating that all cryptocurrencies There is an urgent need that should be under close federal oversight. This becomes a rule that the central government is overseeing the banking sector.

“Of course, cryptocurrencies can be a helpful part and effective for consumers in the financial system If properly regulated.. they have the potential to scale. Especially if it needs to be linked to one of the larger technology networks out there.”

“You can have a system of important payment networks right away. which does not have proper rules and protection People have to rely on the government and the Fed in particular to ensure that digital currency payment systems are safe and reliable,” Powell said.

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