Big news about banks and cryptocurrency! The head of the Federal Reserve (like the bank's bank!), Jerome Powell, said banks can work with cryptocurrency as long as they understand the risks. It's like letting kids play video games – it's okay, but parents need to watch carefully.
- Banks can help people with cryptocurrency, but they need to be safe.
- The Fed is watching closely to make sure things don't go wrong.
- The Fed isn't going to create its own cryptocurrency right now.
| Thing | Info |
|---|---|
| Banks and Crypto | Banks can offer crypto services, but with careful rules. |
| Fed's Role | Supervision and risk management. |
| CBDC (special government cryptocurrency) | The Fed won't create one soon. |
