To Regulate Crypto, Fed Staff May Need to Own It, Argues Top Official
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Federal Reserve’s top regulator Michelle Bowman believes the key to understanding crypto is to hold it.
At a conference in Wyoming, the Fed Vice Chair for Supervision suggested the central bank should allow its staff to make small, educational investments in digital assets. “There’s no replacement for experimenting,” Bowman stated, emphasizing that firsthand experience with the ownership and transfer process is invaluable.
This push for practical knowledge highlights the Fed’s challenging balancing act: maintaining strict ethical standards after past trading controversies while equipping its team with the tools needed to oversee the rapidly evolving crypto world.
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