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Fed Chair Says No Industry, Including Crypto, Should Expect Bailouts
Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.
Federal Reserve Chair Kevin Warsh said the Fed does not want to be in the business of bailing out any sector, including the cryptocurrency industry, during a July 14 hearing before the U.S. House Financial Services Committee. Warsh said financial system reforms should reduce the need for future rescues. However, when asked whether the Fed would intervene if stablecoins or the broader crypto market faced a run, he did not rule out support under all circumstances, leaving the possibility open.
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