⚡ Federal Reserve Chair Jerome Powell acknowledged the lasting significance of cryptocurrency as an asset class and recognized stablecoins as a viable form of money during his testimony before the House Financial Services Committee. He emphasized the necessity for strong federal regulation of stablecoins, asserting that the central bank is the ultimate source of credibility in money. Powell also highlighted the Federal Reserve's participation in discussions on digital asset regulation and the exploration of a CBDC, indicating potential acceptance and future implementation of digital assets by the Fed..