Fed Chair Powell Calls for Congressional Action on Crypto Amid Ukraine, Russia Conflict
Chairman of the Federal Reserve, Jerome Powell, has said recent events in Ukraine underline the need for crypto regulations.
Chairman of the Federal Reserve, Jerome Powell, has said recent events in Ukraine underline the need for crypto regulations.
Jerome Powell said that the situation with Russia “underscores the need for really congressional action on digital finance, including cryptocurrencies.”
Never before has the ability to finance a war – and to shield oneself from monetary attack – rested in the hands of individual citizens wielding smartphones.
Washington takes aim at Russia’s access to digital cash as the U.S. and its allies levy heavy punitive measures against Moscow.
After improvements in the broader sentiment, Cosmos reclaimed the vital $30-support. However, any break below its pattern could lead to a strong pullback.
Powell is testifying before the House Financial Services Committee on the state of the economy.
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