The Federal Reserve Chairman calls for the regulation of encryption, banks warn of “the aversion of excess risks”

“I think it will be useful if there is a larger organizational device on Crypto,” said the head of the Central Bank in the United States at the press conference of the Federal Market Committee on January 29. “Work a lot.”

He said: “We have already spent a lot of time, as you know, with financial services for the home, working with them on different things, and I think this will be a very constructive thing for Congress.”

the comments It came at a time when the federal reserve maintained interest rates by 4.25 % to 4.5 % after the consumer price index data last week, which showed that inflation was not like many expected.

Do not photograph encryption customers

Powell also said the central bank “is not against innovation” with regard to cryptocurrencies.

Speaking of banking restrictions, he added: “Certainly we do not want to take measures that will make banks, as you know, completely end the legal customers just for the excessive risk of excess, and may be related to organization and supervision.”

Powell’s comments came at the first meeting of the FOMC University under the Trump administration as concerns about the so -called “Debanking” efforts to the highest ranks of the government.

“The banks are fully able to serve the encryption customers, as long as they understand and can manage the risks, which are safe and sound,” Powell said before: Because it is very new. “

He pointed out that individual investors need better protection because the risks may not be fully understood. He also compared the encryption of shares and joint investment funds, saying that similar consumer guarantees should apply.

There are no differences with Trump

The Central Bank President has avoided directly to the comments submitted or the measures Donald Trump has taken in recent weeks. He said there was no “contact” with the new president, noting that the differences would undermine the credibility of the Federal Reserve.

He said: “We are ready to take appropriate measures to support the smooth transfer of monetary policy, including controlling the details of our approach to reduce the size of our public budget in light of economic and financial developments.”

More economic data is expected to expect this week, with the annual grade grade GDP in GDP in the fourth quarter due on Thursday and December (PCE) on Friday.

The encryption markets rose marginally during the Asian trading session on Thursday morning, as Bitcoin led the package and recovered $ 105,000.