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“We do see payments stablecoins as a form of money," Powell said, adding that "the ultimate source of credibility in money is the central bank."
Federal Reserve Chair Jerome Powell said on Wednesday that the U.S. central bank should play a “robust federal role” in overseeing stablecoins, a sizable slice of the overall crypto market that legislators are trying to craft rules for.
Powell also remarked that cryptocurrencies, like Bitcoin, have "staying power."
His comments came on Capitol Hill during a semiannual hearing on monetary policy held by the Republican-led House Financial Services Committee and led by Patrick McHenry (R-NC).
#bitcoin #fed #chair #bullish #cryptoonindia
Federal Reserve Chair Jerome Powell said on Wednesday that the U.S. central bank should play a “robust federal role” in overseeing stablecoins, a sizable slice of the overall crypto market that legislators are trying to craft rules for.
Powell also remarked that cryptocurrencies, like Bitcoin, have "staying power."
His comments came on Capitol Hill during a semiannual hearing on monetary policy held by the Republican-led House Financial Services Committee and led by Patrick McHenry (R-NC).
#bitcoin #fed #chair #bullish #cryptoonindia
