Golden Finance reported that Federal Reserve Powell said it was time to "re-examine" the issue of debanization, after criticism pointed out that the crypto industry is being excluded from banking services. During a Senate Banking Committee hearing Tuesday, the committee chair Tim Scott (R-S.C.) asked Powell if he would work with him to ensure that financial regulations do not “impose unnecessary burdens.” "I promise to work with you and we really try to avoid overburdening. Frankly, I think it's fair to revisit the debanization issue." “We didn’t mean to do this, but sometimes regulation causes something to happen and we need to improve on that,” Powell added. Scott also asked Powell if he would work with lawmakers to end the issue of debanking, and Powell agreed.