PANews reported on April 17 that according to The Block, Federal Reserve Chairman Jerome Powell said that in the future, bank rules related to cryptocurrencies may be "relaxed". In an interview with the Chicago Economic Club on Wednesday, Powell pointed out that there has been "a wave of failures and frauds" in the cryptocurrency field over the years, but the atmosphere in the field itself is becoming more and more mainstream. During the event, Powell also talked about topics such as tariffs, immigration and inflation.

"We've taken a fairly conservative approach in the guidance and the rules that we impose on banks, and other bank regulators have been even more conservative," Powell said. "I think those rules will be relaxed a little bit. We're going to try to do that in a way that preserves safety and soundness, but also allows and promotes appropriate innovation, and doesn't expose consumers to risks that they don't understand, and doesn't make banks less safe and sound." Powell praised lawmakers' work on stablecoins on Wednesday. "Stablecoins are a digital product that could have fairly broad appeal and should include typical consumer protections and transparency, and that's something that the Senate and the House are working on," he said.