Jerome Powell Agrees to Work with Lawmakers to Address Crypto Debanking
In a bold move, Federal Reserve Chairman Jerome Powell called for hair loss after criticizing the crypto industry for being denied access to banking services.
During a Senate Banking Committee hearing Tuesday, committee chairman Tim Scott asked Jerome Powell if he would work together to ensure financial regulations are fair and not unnecessarily assumed The burden, Powell agreed to work with Tim Scott, saying the Fed aims to avoid unnecessary burdens.
He also believes that it is important to reassess the issue of revocation. “We didn’t do these things on purpose, but sometimes regulation causes things to happen and we need to work hard to do that,” Powell added.
Scott asked Powell if he would work with lawmakers to end the revocation that Powell agreed to, saying “yes.”
Crypto Debanking once again became a hot topic in Washington, with lawmakers holding hearings and starting an investigation into the issue. Last week, the House and Senate held two hearings to resolve the issue.
