Fed Chair Powell: Banks are Free to Engage in Crypto Activities
Fed Chair Jerome Powell says that US banks are free to engage in crypto activities, giving them the green light to enter the world of cryptocurrency. The declaration is a huge one for the crypto industry, which has thrived in 2025 in a United States that has become more pro-crypto on a federal level. The Federal Reserve Chair emphasized that while the banks are free to engage with crypto, they must do so in a safe and responsible way, with proper protections for customers and the financial system. JUST IN: Federal Reserve Chair Jerome Powell says "banks are free to conduct crypto activities." pic.twitter.com/gCGvwdTh7l — Watcher.Guru (@WatcherGuru) June 24, 2025 Back in February, Powell said that the Federal Reserve would not block banks from serving legal crypto customers. He proclaimed that the Fed would no longer get in the way of crypto banking and permitted banks to serve cryptocurrency customers. Now the Fed Chair is given a further green light for Banks to not only s...