| Cryptocurrency | Price (USDT) |
|---|---|
| BTC | $108205.5400000000 |
| ETH | $2458.0000000000 |
| BNB | $650.4700700000 |
| XRP | $2.1951790000 |
| ADA | $0.5643583000 |
| SOL | $151.5605000000 |
| DOGE | $N/A |
| DOT | $3.4313500000 |
| LTC | $86.7575000000 |
| LINK | $13.4417300000 |
Category: CRYPTO NEWS
The post U.S. Banks Are Free to Service Crypto Sector appeared on BitcoinEthereumNews.com. Fed Chair Jerome Powell confirmed U.S. banks are free to provide services to crypto firms. The policy clarification removes a key barrier for traditional financial institutions. The statement confirms the Fed’s stance is to not inhibit crypto banking relationships. Federal Reserve Chair Jerome Powell delivered a message to two very different audiences on Tuesday, June 24. For the broader economy, he signaled the central bank’s tough fight against inflation is far from over. But for the crypto industry, he provided a quiet but clear green light for Wall Street to get more involved. During congressional testimony, Powell confirmed that U.S. banks are free to do business with the crypto sector, a major policy clarification. The statement came as he also defended the Fed’s decision to hold interest rates at a restrictive level, a stance that analysts like attorney John E. Deaton believe will continue to put long-term pressure on the U.S. dollar. i.e. “We will be hitting the print button, for the foreseeable future, further devaluing the USD by the day.” https://t.co/SvuUfslrDR — John E Deaton (@JohnEDeaton1) June 24, 2025 The Fed’s Ongoing Inflation Fight Powell emphasized that while inflation has come down since its 2022 peak, it still remains above the central bank’s 2% target. Core personal consumption expenditures rose 2.6 % in May, and near-term inflation expectations are creeping upward. A significant driver behind this shift is the renewed threat of higher tariffs. These trade barriers are expected to raise consumer prices and potentially reduce business activity. Moreover, Powell admitted that the Fed’s current policy is being shaped by inflation projections for 2025. Both internal forecasts and external market expectations suggest prices will rise faster next year. Hence, interest rate cuts remain off the table for now. This outlook means the central bank will likely continue expanding its…
2025-06-25T03:37:36+00:00