Federal Reserve Chairman Powell has warned about the cryptocurrency industry and its "turbulence." Powell once again warned U.S. banks of the risks of participating in the digital asset industry, saying that "banks need to be cautious and any changes in bank capital regulations must be 'tailored'."
In addition, he said that lenders overseen by regulators must be "very careful" when dealing with cryptocurrencies, adding that the central bank does not want to prevent innovation. (Bloomberg)
