KEY POINTS
- Powell said banks can offer crypto solutions to customers 'as long as they understand and can manage the risks'
- He also reiterated that the Federal Reserve is 'not against innovation'
- He said the Fed won't take actions to urge banks to terminate 'perfectly legal' offerings
Bitcoin jumped late Wednesday night after U.S. Federal Reserve Chair Jerome Powell said banks can actually provide cryptocurrency services to their customers as long as risks are managed well.
