Powell sees a promising future for crypto, with a key role for stablecoins

Jerome Powell, the president of the American federal reserve, recently made significant statements that could well mark a turning point for the cryptocurrency industry. While large institutions are starting to pay increased attention to Bitcoin, Powell has spoke of the evolution of cryptos, announcing that they are heading for consumer adoption. If we add to this legislative proposals on stablecoins and the position of American regulators, the future of the digital asset market seems more promising than ever.

Cryptos, growing adoption

Jerome Powell's words drew attention. He clearly said that cryptocurrencies, especially stablecoins, are In the midst of mainstream adoption phase. According to him, the legislation underway at the Congress, both in the House and in the Senate, should make it possible to create A legal framework for stablecoins. He stressed that such regulation would be necessary and beneficial.

“” Depending on what there is in it, it's a good idea. We need it. There are not currently one “, He said during His speech at the Chicago Economic Club About this legal framework. Powell also said that stablecoins could have a ” strong attractiveness ». It shows a change in the regulator approach With regard to digital assets like Bitcoin, which were previously considered with a lot of skepticism.

But despite this evolution, Powell insisted on the fact that Consumer protection and transparency must appear in the future legislation.

A more favorable position on the side of regulators

The approach of the Fed, long perceived as conservative, now seems want to be more flexible. Powell has confirmed that the federal reserve has no intention of restricting banking relations with the crypto industry. He stressed that while retaining a cautious positionsome guidelines could be reduced to encourage responsible innovation in the field of digital assets.

We will try to do so in order to preserve the security and solidity of the financial system.

This opens the door to a greater involvement of banking institutions in the cryptocurrency ecosystem, which could boost their adoption. However, Powell also recognized the complex challenges posed by the integration of digital assets into the traditional financial system. He thus insisted on the Need for a more global and complete regulatory structure To supervise this evolution.

Stablecoins legislation: a priority for congress

The situation now accelerates on the side of the American Congress, with legislative proposals such as The Genius Act and the Stable Act. These bills aim to establish a legal framework for stablecoins, these cryptos backed by the dollar which are experiencing increasing use, in particular in international payments and the trade of cryptocurrencies.

At a conference in New York, Bo Hines, executive director of the presidential digital assets, announced that The finalization of a stablecoin law was a priority for the Trump administration.

After the Senate banking committee adopted the Genius Act, a final bill on Stablecoins could arrive on the president's office within two months.

THE stablewhich already represent more than $ 227 billioncontinue to grow, exceeding actors as a visa in terms of volume of transactions. Powell and other regulators have therefore become aware of the importance of this market and the urgent need for clear regulation.

While American regulators now seem more open to the regulation of cryptocurrencies, including stablecoins, market growth prospects are encouraging. However, the number 1 of the federal reserve has also drawn up a worrying economic table, with inflation increase forecasts and slow economic growth.