Congressional body questions Fed’s powers to regulate crypto
Banks can at present present publicity to sector, however not custody, as change seeks partnership
The US congressional analysis service (CRS) has questioned whether or not the Federal Reserve must be allowed to manage cryptocurrencies or whether or not Congress ought to determine which crypto corporations can have grasp accounts with the Fed and entry to its low cost window.
The CRS doesn’t suggest coverage however outlines matters that Congress might want to contemplate. Its paper, printed on February 3, covers a variety of points, together with the Fed’s independence and its remittances to the Division of the Treasury.
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