Fed Official Says Staff Should Be Allowed To Hold Crypto
The Federal Reserve’s top regulatory official says staff from the US central bank should be allowed to invest a small amount in crypto to help them understand the technology.
Fed vice chair for supervision Michelle Bowman said at a blockchain event in Wyoming on Tuesday that the regulator should consider allowing its staff “to hold de minimus amounts of crypto or other types of digital assets so they can achieve a working understanding of the underlying functionality.”
“We will soon be establishing a framework for supervising issuers of these assets,” she added.
“There’s no replacement for experimenting and understanding how that ownership and transfer process flows.”
Currently, most Fed staffers and their spouses are…
