Federal Reserve Chair Jerome Powell says Bitcoin is maturing
At a recent Senate Banking Committee meeting, Federal Reserve Chair Jerome Powell discussed how cryptocurrency is changing. He said that Bitcoin and other crypto have become more popular and are now accepted by more people. Senator Cynthia Lummis asked about how stablecoin risks have changed since the Federal Reserve’s 2023 policy under Section 9(13), which prompted his comments. This part allows the Federal Reserve Board to oversee state-chartered member banks.