Jerome Powell, U.S. Fed Chair, acknowledges crypto’s mainstream rise due to regulatory changes. He supports Congress’ efforts to create a legal framework for stablecoins, which he believes could be widely appealing. Powell has likened Bitcoin to gold and has led the Fed since 2018, with potential successors being considered soon.
Jerome Powell, Chair of the U.S. Federal Reserve, has indicated that cryptocurrency is entering the mainstream, influenced by an evolving regulatory landscape. He highlighted the efforts of Congress, encompassing both the Senate and House, to establish a legal framework for stablecoins. Powell emphasized the necessity of such legislation, stating, “There isn’t one now,” and remarked that stablecoins may possess a broad appeal.
Furthermore, Powell has previously suggested that Bitcoin could serve as a digital analogue to gold. Since taking office in 2018, he has overseen the Federal Reserve, one of the most significant central banking institutions globally. Recent reports also indicate that interviews for potential candidates to succeed Powell are scheduled for the autumn.
