For those of you that missed it.
I went to check this hearing and found where he said that. He basically said, that Bitcoin is for China and Monero for USA.
https://www.youtube.com/watch?v=-q9upPs6-Ms&feature=youtu.be
Powell didn't say anything about Bitcoin or Monero, and I don't think you can extrapolate from his statement any implied support for such coins.I went to check this hearing and found where he said that. He basically said, that Bitcoin is for China and Monero for USA.
https://www.youtube.com/watch?v=-q9upPs6-Ms&feature=youtu.be
Powell wasn't talking about decentralized, p2p crypto. He was talking about China's proposed issuance of a state-controlled virtual currency. Powell thinks a transparent blockchain is in keeping with the way China does things, where the government is up everyone's ass and wants to control your very thoughts. He doesn't think the U.S. is like that. But the implication is not that Powell supports a decentralized, censorship-resistant coin like Monero. I think he probably supports a ledger controlled by a central actor like the Fed or the US government, a ledger with some degree of privacy and fungibility. But the privacy and fungibility you would get with a FedCoin is probably no better than the privacy and fungibility you have in your bank account today.
He believes that how Monero as it is today is more appropriate for USA then Bitcoin. Nope he did not mention any cryptocurrency, but he mentioned that transparent ledger coins are inappropriate for the culture/society he lives in.
How's fluffy progressing with that law firm for that listing guidance?
If for so many even FED chairman statements cant stop FUD about how inappropriate are opaque ledger cryptocurrencies then I would not put that much hope in some legal opinion.