PANews reported on April 17 that, according to The Block, Federal Reserve Chairman Jerome Powell said that the rules related to cryptocurrencies for banks may be "relaxed" in the future. In an interview with the Economic Club of Chicago on Wednesday, Powell noted that there has been "a wave of failures and frauds" in the crypto space over the years, though the atmosphere itself is becoming more mainstream. At the event, Powell also touched on topics such as tariffs, immigration, and inflation. "We've taken a fairly conservative approach in terms of the guidance and rules imposed on banks, and other banking regulators have been even more conservative," Powell said. I think those rules will be relaxed. We will try to do this in a way that both maintains safety and robustness and allows for and promotes appropriate innovation, without exposing consumers to risks that they do not understand, and without reducing the safety and soundness of banks. Powell on Wednesday affirmed the work of lawmakers on stablecoins. "Stablecoins are a digital product that is likely to have quite broad appeal and should contain typical consumer protections and transparency, which is exactly what the Senate and House of Representatives are working on," he said. ”