The Fed’s Stablecoin Drama: Powell Wants Rules Before Crypto Turns Into Monopoly Money

Jerome Powell, the Fed’s head honcho, just dusted off his crystal ball and declared, “Hey, maybe we should actually put some rules around these stablecoins.” For those blissfully unaware, stablecoins are basically digital tokens pretending to be dollars—kind of like that friend who swears they’re “just one drink shy of sober.” They’re gaining ground internationally, which means they’re stepping out of the “cryptocurrency nerd basement” and into the harsh daylight of mainstream finance.

But wait, there’s drama! Powell’s speech at the Chicago Economic Club (broadcast to the world via Bloomberg, because what else would you do on a Tuesday) wasn’t just about token tech. Oh no, he also threw some shade at inflation and economic growth, which promptly sent Bitcoin’s latest rocket ride crashing back to Earth. 🚀💥

Acting SEC Chair Mark Uyeda is also calling for fresh crypto regulations

, because apparently everyone wants a say in this wild, wild west of digital cash.

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2025-04-17 14:31