Jerome Powell, Chairman of the US Federal Reserve (FED), made a remarkable statement regarding cryptocurrencies. Stating that they have no intention of banning cryptocurrencies, Powell stated that the problem is in stable coins and that they need a regulation.
The most talked about investment tools of recent years are cryptocurrencies, especially traditional financial systems It has become the number one target of supporters. Because people invest in cryptocurrencies and the total market volume in this sector is around 2 trillion dollars, the traditional world order. by changing threatening.
In particular, governments and names that manage financial systems have a very clear attitude towards cryptocurrencies. This attitude, as you can imagine, is quite negative. But now, there has been a remarkable development on the subject. US Federal Reserve (FED) Chairman Jerome Powell to ban cryptocurrencies that they don’t think made a statement.
FED’s main concern seems to be stablecoins
Clearly for cryptocurrencies “No, don’t ban them we do not intend.“Fed Chairman Powell drew attention to stable coins.”Stable coins remain outside the regulatory framework and their oversight, their arrangement would be appropriate.Using the expressions, Powell, with this statement for stablecoins underlined that an adjustment could be made.
Interesting Cryptocurrency Advice from Elon Musk to Governments: Do Nothing
There is a reason why stable coins are mentioned in the statements made by Fed Chairman Jerome Powell. stable coins, direct indexed to the dollar. In other words, cryptocurrencies such as Tether or USD Coin, which are stable coins, are always around 1 dollar and show a 1 percent increase or decrease. This situation is not good for the USA. Because Tether, in particular, has been in our lives for years and has a well-established system. If the US Federal Reserve digital version If it wants to create it, it will likely fail to achieve its purpose because of Tether. Cryptocurrencies, which are ultimately used as the digital version of the dollar in our lives for years.…