Federal Reserve Chairman Jerome Powell
Federal Reserve Chairman Jerome Powell said that the law does not allow the US central bank to hold a reserve of the cryptocurrency Bitcoin, highlighting that monetary policymakers have no desire to participate in any government efforts to do so. 
Following the Federal Reserve meeting yesterday, Wednesday, Powell explained in a press conference that considering the legal issues related to the central bank’s possession of bitcoin falls within the jurisdiction of Congress.
Powell had previously stated in press statements on Dec. 4 that the Federal Reserve regulates and supervises the banking sector. It does not want the interaction between cryptocurrency businesses and banks to threaten the health of banks.
The US central bank is not directly involved in regulating the cryptocurrency market, Powell stressed.
US President-elect Donald Trump recently pledged to create a strategic reserve of Bitcoin after returning to the White House. He created a new position called “AI and Cryptocurrency Czar”, planning to assign it to the former CEO of PayPal, David Sachs.
Federal Reserve Chairman Jerome Powell
Federal Reserve Chairman Jerome Powell said that the law does not allow the US central bank to hold a reserve of the cryptocurrency Bitcoin, highlighting that monetary policymakers have no desire to participate in any government efforts to do so.
Following the Federal Reserve meeting yesterday, Wednesday, Powell explained in a press conference that considering the legal issues related to the central bank’s possession of bitcoin falls within the jurisdiction of Congress.
Powell had previously stated in press statements on Dec. 4 that the Federal Reserve regulates and supervises the banking sector. It does not want the interaction between cryptocurrency businesses and banks to threaten the health of banks.
The US central bank is not directly involved in regulating the cryptocurrency market, Powell stressed.
US President-elect Donald Trump recently pledged to create a strategic reserve of Bitcoin after returning to the White House. He created a new position called “AI and Cryptocurrency Czar”, planning to assign it to the former CEO of PayPal, David Sachs.
