[Federal Reserve Vice Chair: Cryptocurrency Innovation Will Not Affect Monetary Policy Capability] On November 17, Federal Reserve Vice Chair Jefferson stated that financial innovation is a characteristic of the U.S. financial system, and the rise of digital assets is part of it. The Federal Reserve's regulations neither encourage nor discourage the use of cryptocurrencies; this is determined by the private sector. The Federal Reserve's responsibility is to ensure that while the public adopts new technologies, the banking industry remains safe and sound. He emphasized that as long as the Federal Reserve's policies align with the needs of businesses and households, innovations like cryptocurrencies will not affect the Federal Reserve's monetary policy capability.
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17:33