Federal Reserve Vice Chair Responds to Crypto Debanking Controversies: Always Neutral

Federal Reserve Vice Chairperson Michael Barr responded to the controversy over the debanking of the cryptocurrency industry, saying that the Federal Reserve has always been neutral and will not prevent banks from working with the crypto industry. Barr emphasized that the Fed provides clear guidance and a regulatory framework to enable banks to engage in crypto within compliance, and said it will not require banks to do it or dissuade them from doing it.