Curvement banking services get a green light from the Federal Reserve Chair, Jerome Powell
Jerome Powell, Federal Reserve Chairman Jerome Powell, threw yesterday, indicating that American banks can engage freely with encryption agents – which highlight them to understand and manage the underlying risk. Powell’s comments came during the press conference of the FOOC Open Market Committee (FOMC), where he dealt with inquiries about the federal reserve position on banking services for encryption.
“The banks are fully able to serve the encryption customers as long as they understand and can manage the risks,” Powell He said. “We are not against innovation, and certainly we do not want to take action that will make banks completely end legal customers just because the excessive risk of excessive risk may be linked to organization and supervision.”
Positive reactions from the encryption industry
Within hours, the main numbers in society provided widespread praise for Powell’s statement, and their interpretation as a green light for banks that were hesitant to adopt encryption services. Nic Carter, partner in Castle Island Ventures and co -founder of Blockchain Data Assector Coinmetrics.io, Commenting via X, “Massional Color -shift. .
This feeling was repeated by Hunter Horsley, CEO of BitWise Asset Management, who Tweet“The banks will be a major incentive for encryption in 2025. The beginning of the prevailing era.” Meanwhile, David is a lawyer, chief research in Falconx, Note“A huge wave contained within the next 6-18 months. Most of them are not aware of its scale.”
Joe Konsorti, the head of growth on them, stressed the expansion of potential banking offers: “Bitcoin banks can be on behalf of customers, the creation of Bitcoin financial products, and allowing customers to buy Bitcoin. Even Powell is no longer controlled. Dylan Leclair to the rapprochement of the organizational forces and the market, saying: “FASB + Enrom of SAB 121 + Repredssenters for the Investment Funds circulating. Banks here.”
Powell’s comments reach a moment when many organizational changes and accountability are preparing to reshape how banks are dealing with digital assets. In August 2024, the Financial Accounting Standards Council (FASB) submitted a unified framework for accounting on coins on the company’s budgets. This was a prominent step, as it defined clarity on reporting practices – a decisive component of banks that are considering providing encryption services.
The Securities and Stock Exchange Committee (SEC) had previously imposed the accounting bulletin on employees (SAB) 121 in March 2022, and asking the financial companies to register the encrypted currencies that are controlled by customers as opponents on their public budgets. On January 23, 2025, the Supreme Education Council canceled this base through SAB 122. This step simplifies the custody process of digital assets, which removes the burden of great reporting and paves the way for more financial institutions to participate in encryption.
Moreover, the in -kind recovery processes of the exchange on the stock exchange (ETFS), especially the Bitcoin investment funds, will become a reality under the Trump administration. Instead of using criticism, this mechanism allows the exchange of ETF shares to basic assets – smoothly align with the decentralized nature of Bitcoin and providing possible tax benefits. Blackrock recently changed the SEC base in Spot Bitcoin Etf.
Combined, these organizational developments – which are dismantled in the Powell’s Powder tone – indicate a turning point for banks that are considering entering the encryption markets. Industry observers indicate that with obstacles such as SAB 121 are removed and transparent paza in place, American banks can become participating in the next wave of encryption adoption.
At the time of the press, the total code ceiling reached $ 3.49 trillion.
Distinctive image created with Dall.e, Chart from TradingView.com
