Fed Chair Jerome Powell Acknowledges Crypto’s Sustainability and Urges Regulatory Clarity

During a Congressional hearing, Federal Reserve Chairman Jerome Powell made headlines with his optimistic outlook on the digital asset market. Powell expressed his belief in the sustainability of cryptocurrencies as an asset class within the United States. His statement came as part of the presentation of the Federal Reserve’s Semi-Annual Monetary Policy Report to the House Committee on Financial Services. Powell’s recognition of the “staying power” of crypto indicates his acknowledgment of its ability to retain value and remain relevant in the long run.