Fed Official Advocates for Staff Crypto Ownership for Educational Purposes

Reading Time: < 1 minute

Federal Reserve Vice Chair for Supervision Michelle Bowman has called for a change in the central bank’s strict crypto investment rules.

Speaking at a blockchain event, Bowman argued that Fed staff should be permitted to hold minimal amounts of cryptocurrency to gain a practical understanding of the technology they are tasked with regulating.

This proposal comes as the Fed prepares a new supervisory framework for crypto asset issuers. Currently, most Fed employees and their spouses are prohibited from owning crypto or related investments, a rule tightened in 2022 following a trading scandal among senior officials.