Fed Vice Chairman for Financial Supervision Supports Fed Staff Holding Small Amounts of Cryptocurrency

On Tuesday, Federal Reserve Vice Chairman for Supervision, Dr. Bowman, suggested that Fed staff should be allowed to hold small amounts of crypto products, arguing that experience would help them better conduct their regulatory work in these financial markets. "Minimal" holdings of cryptocurrencies and other digital assets would help staff gain a practical understanding of these products. "Nothing can replace hands-on experience and understanding the processes involved in holding and transferring crypto assets."