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Fed Chief Powell Calls Cryptocurrency Investment a Big Risk

Stormysaga in Markets & Trading

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Stormysaga    + 62

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The chairman of the Federal Reserve, Jerome Powell referred to cryptocurrencies as risks with no intrinsic value on Wednesday at a congressional hearing. He said currencies untethered to governments or precious metal, such as bitcoin, pose serious risks to investors. He also added that the Federal Reserve regards cryptocurrencies as a consumer protection issue, and will not develop cryptocurrency of its own, contrary to rumors.

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