Powell Says Crypto Isn't the Problem, Lack of Regulation Is

During Powell's recent testimony before Congress, which was primarily about inflation, housing prices, and rate hikes, towards the very end he was asked and did comment about Crypto.

Powell said crypto is innovative and a good technology, he said it does have a future and he did point out that many of the problems we've seen in the last year with exchanges going down and companies defaulting, these are problems also faced by traditional financial systems and markets.

What he did point out is that it's still the wild west and there's a lack of regulation in the space. He seemed to allude to what we all know that crypto is not the problem, scammy companies and individuals in the space are the problem. Essentially he stated a lack of regulation is the problem not crypto itself.

I know many people here don't want regulation and while that is one of the draws of crypto for mainstream adoption to happen and for it to intertsect more with traditional markets and financial systems we are going to need some regultion.