text: Powell Sees No 'Macroeconomic Implications' From Bitcoin Price Swings, But 'Better Regulatory Framework' Still Needed – CryptoBudha
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  Powell Sees No 'Macroeconomic Implications' From Bitcoin Price Swings, But 'Better Regulatory Framework' Still Needed
  By admin June 22, 2022 No Comments2 Mins Read
  According to the chairman of the central bank, the Federal Reserve is watching closely the world of cryptocurrencies, but is not worried.
  Federal Reserve Board Jerome Powell Said At today's Senate meeting, banks did not see the "macroeconomic impact" from Bitcoin and the volatile price volatility of the broader crypto market, but they still needed better regulation.
  "I think the principle implication is what we really are saying, and what others are saying for a while. [crypto] It's a very innovative and new space, and we really need a better regulatory framework, "said Powell, after saying that the central bank was closely watching it.
  Bitcoin And most other coins and tokens in the ecosystem suffered a dramatic price drop last month as many investors are concerned about the Fed's rate hikes. Control inflation Sold a higher risk asset.
  Bitcoin is currently trading at $ 20,162.59, according to CoinMarketCap. It reached $ 68,789.63 last November.The crypto market seems to be sold out closely correlation Stocks and the US stock market It was a terrible year..
  Powell was also asked Stablecoin— A digital asset fixed to fiat money, such as the US dollar, which is less volatile than Bitcoin and is considered the backbone of the crypto market. He said the world of Stablecoin was "emerging" and did not have the necessary "purposeful" regulations.
  U.S. officials have been on the lookout for Stablecoin for some time, along with the Biden administration. I'm looking for a way to regulate them..