---
title: 🔴 FED CHAIR POWELL SAYS BANKS CAN NOW SERVE CRYPTO TO CUSTOMERS 🚀
description: "Banks can serve crypto customers as long as they can manage the risk, said U.S. Federal Reserve Chair Jerome Powell, amid allegations that the crypto industry is being cut off from financial institutions. \n\n\"The threshold has been a little higher for banks engaging in crypto activities and that's because they're so new,\" Powell said on Wednesday when asked by a reporter during a Federal Reserve press conference about risks associated with cryptocurrency. \n\nThe central bank is not against innovation, he added. \n\nCrypto firms have complained about the difficulty behind establishing and maintaining bank accounts in the U.S. Following the collapse of crypto exchange FTX in late 2022, several governmental agencies, including the Federal Reserve, issued warnings on \"crypto-asset risks.\"\n\nSource: The Block"
---

[Syz The Moment](https://blog.syzgroup.com/syz-the-moment)

# [🔴 FED CHAIR POWELL SAYS BANKS CAN NOW SERVE CRYPTO TO CUSTOMERS 🚀](https://blog.syzgroup.com/syz-the-moment/fed-chair-powell-says-banks-can-now-serve-crypto-to-customers)

 Written by [Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/syz-the-moment/author/charles-henry-monchau) | Jan 30, 2025, 8:19:01 AM

[View full post](https://blog.syzgroup.com/syz-the-moment/fed-chair-powell-says-banks-can-now-serve-crypto-to-customers)

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