Federal Reserve Officials Show Openness Toward Digital Assets

According to Odaily, a shift in the Federal Reserve's stance on cryptocurrencies is emerging. FOX Business journalist Eleanor Terrett reported on X that Republican Federal Reserve Governors Michelle Bowman and Christopher Waller expressed a more open attitude towards digital assets and their role in the financial system during two speeches last Friday. This change is noteworthy for two reasons: first, U.S. President Donald Trump may consider appointing one of them to replace Michael Barr as the next Vice Chair for Supervision, overseeing regulatory interactions between the Federal Reserve, banks, and cryptocurrencies. Second, their remarks indicate a shift in tone and attitude, as both had previously supported policies making it more challenging for banks to engage with cryptocurrencies. Additionally, they voted against applications for custodian banks to become Federal Reserve members.