- Fed Chair Jerome Powell reveals a new legislature for digital currencies will be out soon.
- New rules and regulations by the U.S will be reflecting on the crypto market.
- Congressman Tom Emmer also tweets the same.
It’s quite skeptical that ever since, the talks started in December, 2021 in the Federal assembly, and rumors regarding serving rules and regulations to be imposed on the entire crypto industry took on fire with the start of the year. This includes, crypto mining, Bitcoin (BTC), crypto exchanges and much more. Moreover, it is because of this that many analysts depict the recent market crash.
Much to the amazement, the Federal Chair Representative, Jerome Powell announced officially that a new crypto report and legislature will be out soon.
The New Crypto Report
The hearing took place on January 11, 2022, in which the chair representative, Jerome Powell stated out in front of the entire Senate Banking members that a new report on crypto and digital currency will be out soon.
In spite of this, Jerome Powell states that this new crypto report will be out approximately in a few weeks time! This new crypto report is predicted to be quite liberal and in favor of the digital currency and the crypto industry. As almost the entire world is indulging themselves and adopting the digital currency ecosystem, the upcoming reports are said to be quite in favor of the crypto industry.
In addition to this, the American politician and congressman, Tom Emmer put out a tweet, stating the same as what Jerome Powell revealed.
Jerome Powell’s Views
Accordingly, Jerome Powell utters that the crypto report is still not yet ready and further revisions are in process at the moment. In addition, the Fed Chair terms that the new monetary policy changes implied have made the report delay. Also, Jerome Powell hinted at the high possibility for the U.S to come up with a Central Bank Digital Currency (CBDC).
Moreover, Powell terms that the report will be solely based ioin questions raised and answers given by the people. Therefore, it seems the new report will be completely democratic and in support of the industry too.
A Project Engineer by profession, a writer by passion. Especially into the critics and skeptics on cryptocurrency. His fascination towards the crypto world and his personal experience on it has made him a writer with a taste.