The head of the US Federal Reserve System, Jerome Powell, said that banks are allowed to work with cryptocurrency clients if they comply with risk management measures. At the same time, he noted the need to develop a clear "regulatory framework" for the crypto industry.

At a press conference on January 29 after a meeting of the Federal Open Market Committee (FOMC), Powell emphasized that regulating cryptocurrencies remains a priority for Congress. He also said that the Fed is actively cooperating with lawmakers on this issue.

Additionally, Powell commented on the report of the US Financial Services Supervisory Board, which in December 2024 pointed out the potential risks of stablecoins for financial stability.

After the Fed chairman's speech, bitcoin rose by about 3%, temporarily rising above $104,000. This confirms that investors perceive any Fed statements as an important factor influencing the cryptocurrency market.