OREANDA-NEWS The head of the US Federal Reserve, Kevin Warsh, said on Tuesday that his department would not be involved in rescuing the cryptocurrency industry in the event of a financial crisis.

During a hearing in the Financial Services Committee of the U.S. House of Representatives, Warsh was asked whether the Fed would help cryptocurrencies or stablecoins in the event of large-scale problems in the markets.

"I will answer more broadly. We are not going to be involved in saving anyone," Warsh replied.