Federal Reserve Chair Jerome Powell said on 25 June that U.S. banks may provide services to the cryptocurrency industry as long as they maintain strong safety and soundness standards. The remarks mark a notable shift from the central bank’s cautious posture following the digital-asset market turmoil of 2022. Powell added that the Fed is "withdrawing a lot" of the anti-crypto supervisory guidance put in place three years ago. He described the stablecoin segment and the broader crypto sector as having "matured" and "become much more mainstream," underscoring growing confidence that traditional risk controls can accommodate digital-asset activities. The chair also welcomed ongoing efforts in Congress to establish a comprehensive regulatory framework for digital assets, calling the legislative push "very positive." While no immediate rule changes were detailed, Powell’s comments suggest U.S. banks could soon compete more freely in custody, payments and other crypto-related services, provided they meet existing capital and risk-management requirements.