Federal Reserve Vice Chair Pushes for Small Crypto Stakes at the Fed
This article first appeared on GuruFocus.
Federal Reserve Vice Chair for Supervision Michelle Bowman thinks Fed staff should be able to dip a toe into crypto literally. Speaking at the Wyoming Blockchain Symposium on Tuesday, she argued examiners need real-life experience with digital assets if they’re going to regulate them effectively.
Our approach should consider allowing Federal Reserve staff to hold de minimus amounts of crypto, Bowman said, comparing it to learning a sport. I wouldn’t trust someone to teach me to ski if they’d never put on skis.
She stressed this isn’t about encouraging speculation, but about giving examiners the hands-on perspective they need. Bowman also warned that strict investment bans…
