“We’ve seen just a remarkable set of events in the crypto space,” he said, noting there’s been “quite a lot of turmoil” in the past year, with companies collapsing and high-profile fraud being revealed. “We see in crypto activity lots of things that suggest that regulated financial institutions should be quite cautious in doing things in the crypto space.”
Source: https://www.coindesk.com/policy/2023/03/07/federal-reserves-powell-we-dont-want-to-strangle-crypto-innovation-but-sector-is-a-mess/?utm_medium=referral&utm_source=rss&utm_campaign=headlines