Jerome Powell Admits Possible Relaxation of Crypto Banking Rules in the US

• Fed considers relaxing banking rules on crypto
• Powell advocates for safe innovation in crypto sector
• Stablecoins gain legislative support in the US

Federal Reserve Chairman Jerome Powell has indicated that the regulatory framework for banks that operate with cryptocurrencies could undergo adjustments, allowing greater flexibility for these institutions. The statement was made during an event at The Economic Club of Chicago, where Powell addressed several topics, including inflation, immigration and tariff policy.

Powell said that while the sector has faced a series of “failures and frauds” in recent years, it is increasingly becoming part of the mainstream financial system. The Fed chairman noted that the approach taken so far has been quite conservative, both by the Federal Reserve and other banking regulators.

“I think there will be some easing of that,” Powell said. He stressed, however, that any changes must be made in a way that preserves the safety and soundness of the financial system while encouraging responsible innovation.

Powell's speech comes amid a context of regulatory change in the United States since the start of the new administration. Recently, the Federal Deposit Insurance Corporation (FDIC) announced the repeal of previous guidelines, allowing supervised banks to engage in cryptocurrency-related activities without the need for prior authorization.

At the same time, the US Congress has been moving forward with the creation of a regulatory framework for stablecoins. Bills have already been approved by committees in both the House and Senate. Former President Donald Trump has expressed his support and called for the swift processing of these proposals.

Jerome Powell also commented positively on this legislative effort, noting that stablecoins have the potential for broad adoption and should offer adequate safeguards to consumers. “Stablecoins are a digital product that can really have quite broad appeal and should have typical consumer protections and transparency, and that’s what the Senate and House are working on,” he said.

These signals indicate that the US may be preparing to more clearly integrate cryptocurrencies into the traditional banking sector, without giving up the necessary protections for users and the stability of the system.