Fed Proposes Experimenting With Cryptocurrency for Staff Understanding

Michelle Bowman, the Fed’s Vice Chair for Supervision, argues that staff members should be allowed to hold small amounts of cryptocurrency to gain firsthand experience with blockchain technology. Her proposal is based on the idea that direct participation in digital asset ownership and transfers provides a deeper understanding of how these processes function. The suggestion comes amidst recent efforts to regulate cryptocurrencies, including restrictions on staff and spouses holding digital assets.