Jerome Powell defies Trump, keeps crypto restrictions at Fed
Crypto politicians are discussing a number of changes in Federal Reserve policies that seem to indicate Jerome Powell’s willingness to defy Donald Trump. Despite the Fed’s claim to have withdrawn crypto guidance in compliance with one of Trump’s executive orders, Senator Cynthia Lummis and Wyoming politician Caitlin Long call its actions mere lip service. Re-asserting Powell’s independence from the executive branch this month, Trump relented on speculation that he could fire Powell from his position of chairman at the world’s most powerful central bank. Emboldened, Powell has limited his compliance with Trump’s January 23 executive order, “protecting and promoting fair and open access to banking services.” Jerome Powell reduces crypto banking restrictions — somewhat According to the Federal Reserve Board, its banking supervisors have narrowly withdrawn guidance that restricted certain crypto activities at banks. In particular, the Fed rescinded an expectation t...