Federal Reserve Chair Jerome Powell expressed concerns about the cryptocurrency sector being unfairly excluded from financial services during a hearing of the Senate Banking Committee. Powell pledged to work with lawmakers to reassess banking regulations, acknowledging that unintended consequences sometimes arise from such measures. The issue of debanking crypto-related businesses has been a topic of discussion in Washington, with hearings and investigations conducted. Coinbase previously filed a lawsuit against the FDIC, accusing the agency of intentionally cutting off the crypto industry. Powell has previously stated that banks can serve crypto clients if they handle associated risks effectively.



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