Powell: Fed has 'no intention to ban' cryptocurrencies

Federal Reserve Chair Jerome Powell told U.S. lawmakers that the Fed has "no intention to ban" cryptocurrencies.

During his testimony before the House Committee on Financial Services, Powell was asked to clarify his July comment that one of the stronger arguments for a central bank digital currency is that it could replicate the role of crypto.

Here's Powell's full quote from July: "I think that may be the case, and I think that's one of the arguments that are offered in favor of digital currency," Powell said. "That, in particular, you wouldn't need stable-coins, you wouldn't need cryptocurrencies if you had a digital U.S. currency - I think that's one of the stronger arguments in its favor."

This time around, Powell stated that the Fed has "no intention to ban" cryptocurrencies.
Kitco News is the world’s #1 source of metals market information. Our videos feature interviews with prominent industry figures to bring you market-affecting insights, with the goal of helping people make informed investment decisions.

Subscribe to our channel to stay up to date on the latest insights moving the metals markets.

For more breaking news, visit http://www.kitco.com/

Follow us on social media:
Facebook - https://www.facebook.com/KitcoNews/?ref=br_rs
Twitter - https://twitter.com/kitconewsnow
StockTwits - https://stocktwits.com/kitconews

Live gold price and charts: http://www.kitco.com/gold-price-today-usa/
Live silver price and charts: http://www.kitco.com/silver-price-today-usa/

Don’t forget to sign up for Kitco News’ Weekly Roundup – comes out every Friday to recap the hottest stories & videos of the week: https://connect.kitco.com/subscription/newsletter.html

Join the conversation @ The Kitco Forums and be part of the premier online community for precious metals investors: https://gold-forum.kitco.com/

Disclaimer: Videos are not trading advice and the views expressed may not reflect those of Kitco Metals Inc.
Be the first to comment