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Fed Official Says Staff Should Be Allowed to Hold Crypto
The Vice Chair floated the idea of “practical exposure” for staff as crypto's potential grows.
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Federal Reserve Vice Chair for Supervision Michelle Bowman said Tuesday that central bank staff should be permitted to hold small amounts of crypto, a suggestion that could mark a shift in how the Fed approaches digital assets internally.
What’s the Scoop?
- Proposal: Bowman said allowing Fed employees to hold “de minimis” amounts of crypto could help regulators gain practical understanding of the technology.
- Tech Potential: She highlighted tokenization’s ability to reduce friction in asset transfers, cut costs, and broaden capital market access.
- Legal Evolution: Bowman argued that regulatory frameworks need to evolve in step with blockchain adoption to avoid the U.S. being left behind. Legal experts say her remarks reflect a move from caution toward curiosity.