Federal Reserve Vice Chairman: The Federal Reserve has formed a team to study cryptocurrency innovations

ChainCatcher news, the Vice Chair for Supervision at the Federal Reserve, Barr, stated that crypto technology still has "transformative potential," but it needs to maintain "appropriate boundaries." Banks should be cautious about cryptocurrencies. Banks that directly hold cryptocurrencies will be considered unsafe.

The Federal Reserve has formed a team to research cryptocurrency innovations. Crypto investors often lack sufficient information to assess risks. The Federal Reserve is strengthening its cryptocurrency regulatory capabilities and plans to continue issuing guidance on cryptocurrencies. (source link)