U.S. Federal Reserve has no intention to ban cryptocurrencies, Chairman Powell says

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Speaking before the House Financial Services Committee, US Federal Reserve Chairman Jerome Powell, stated that the authority has no objective to ban cryptocurrencies. 
According to Powell, who responded to his earlier comments that cryptocurrencies could be replaced by a central bank digital currency (CBDC), the crypto market should be regulated in accordance with existing laws.
Same activity, same regulation
Earlier this Thursday, Powell testified before the Committee, which oversees all segments of the country’s housing and financial services sectors, including banking, insurance, real estate, public and assisted housing, and securities.
Responding to a question from Republican Representative Ted Budd of North Carolina, Powell reassured that a China-style ban on cryptocurrencies was not being considered.

Fed Chair Powell says he has no intention to ban #Bitcoin and cryptocurrencies 
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