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The Vice Chairman of Financial Regulation at the Federal Reserve, Bowman, suggested on Tuesday that Federal Reserve staff should be allowed to hold a small amount of cryptocurrency, believing that the experience would help them better regulate these financial markets. Bowman stated that relaxing restrictions on staff investments could also help recruit and retain professional bank examiners, and that holding at least a minimum amount of cryptocurrency and other digital assets would help staff gain practical knowledge of these products. "There is no substitute for hands-on experience and understanding the holding and transfer processes of cryptocurrency assets," she said in a prepared speech at a cryptocurrency conference in Wyoming. Bowman did not disclose specific information such as the exact amount or type of cryptocurrency she is considering holding, but her remarks once again indicate that regulatory agencies of the Trump administration are becoming more friendly towards the cryptocurrency sector.
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