Internet reported that on February 2, according to Ledgerinsights, Federal Reserve Chairman Powell talked about the topic of cryptocurrency at a press conference after announcing that interest rates would remain unchanged. He said that as long as it is done in a safe and stable manner, banks can provide customers with cryptocurrency services. He added,"We are not opposed to innovation, and we certainly do not want to take actions that would cause banks to terminate fully legal customers because of excessive risk avoidance caused by regulation." In accordance with court orders, the Federal Deposit Insurance Corporation (FDIC) recently issued multiple letters emphasizing the strict scrutiny banks face when providing cryptocurrency services to customers. In many cases, banks were told to suspend services and were never approved.