On January 30th, Federal Reserve Chairman Powell stated that in terms of the cryptocurrency market, the role of the Federal Reserve is to regulate it. Banks are fully capable of providing services to cryptocurrency customers, and for banks engaged in cryptocurrency business, the threshold should be higher; The Federal Reserve does not want to take measures that would cause banks to terminate their relationships with fully legitimate customers. As long as banks can effectively manage risks, they are fully capable of providing services to cryptocurrency customers. Establishing stronger regulatory mechanisms around cryptocurrency would be beneficial.
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