‘Banks are perfectly able to serve crypto customers’ – Fed Chair Jerome Powell – BitRss

• Jerome Powell is okay with banks serving crypto customers under proper guidance. 
• Industry insiders viewed his statement as a ‘shift’ from the Biden administration. 

Fed’s chair Jerome Powell has signaled a likely U-turn from the infamous crypto de-banking, which his agency has been implicated for abating during the Biden administration. 

Dubbed ‘Operation ChokePoint 2.0 (OCP 2.0)’ the reported wide-scale banking access restriction against crypto firms caught the attention of the new Trump administration and formed a formal inquiry. 

However, during the Wednesday presser, Powell clarified that banks can now serve crypto customers under proper risk protection. He stated, 

“Banks are perfectly able to serve crypto customers as long as they understand and can manage the risks […] we’re not against innovation.”

He continued,

“We certainly don’t want to take actions that would cause banks to terminate customers who are perfectly legal…