Fed Chairman Warsh: We Won't Rescue Cryptocurrency in Financial Crisis

US Federal Reserve Chairman Kevin Warsh stated that in the event of a financial crisis, the Fed will not participate in rescuing the cryptocurrency sector.During a session of the House Financial Services Committee, Warsh was asked if the Fed would rescue cryptocurrencies or stablecoins in the event of major market problems, to which he responded

We certainly do not want to get into a rescue package

.The Fed Chairman added that while they will do everything possible to reduce potential risks, they will not provide special financial support to market participants, including the cryptocurrency sector.