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Fed Chair Powell Affirms Banks May Serve Crypto Clients With Risk Controls

Jerome Powell stated that U.S. banks can work with cryptocurrency customers if they fully understand and manage associated risks, aiming to bolster customer confidence.

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Terms & Concepts
  • Federal Reserve (U.S. central bank): The central banking system of the United States, which regulates monetary policy and supervises financial institutions.
  • Cryptocurrency: A digital or virtual currency that uses cryptography for security and operates on decentralized networks.
  • Risk Management: The process of identifying, assessing, and controlling threats to an organization's capital and earnings.