PANews reported on February 12 that according to The Block, Federal Reserve Chairman Jerome Powell said that in view of the criticism that the crypto industry has been excluded from banking services, it is time to "re-examine" the issue of de-banking. At a Senate Banking Committee hearing on Tuesday, the committee's chairman, Republican Senator Tim Scott of South Carolina, asked Powell if he would work with him to ensure that financial rules "do not impose more burdens than necessary." Powell said: "I will commit to working with you to solve this problem. We are indeed trying to avoid excessive burdens. Frankly, I think it is fair to re-examine the issue of de-banking. We don't mean to do this, but sometimes regulation causes things to happen and we need to improve on this." Scott also asked Powell if he agreed to commit to working with lawmakers to end de-banking; Powell agreed.

Washington has once again focused on concerns about crypto unbanking as lawmakers hold hearings and conduct investigations to examine the issue. Last week, the House and Senate held two hearings on the issue. At a press conference last month, Powell said that banks can serve crypto customers as long as they can manage the risks.