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Fed Chair Powell affirms banks can serve crypto clients, calls for stronger regulation
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“We’re not against innovation, and we certainly don’t want to take actions that would cause banks to terminate customers who are perfectly legal just because of excess risk aversion, maybe related to regulation and supervision,” said Powell.
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“I do think it would be helpful if there were a greater regulatory apparatus around crypto, and I think that’s something that Congress was working on quite a lot. We’ve actually spent a lot of time with members of Congress working together with them on various things, and I think that would be a very constructive thing for Congress to do.”
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