The Federal Reserve has banned its senior officials from investing in cryptocurrency. “Officials covered by the new rules will have 12 months from the effective date of the rules to dispose of all impermissible holdings,” said the Federal Open Market Committee.
Senior Federal Reserve Officials Prohibited From Investing in Cryptocurrency
The Federal Open Market Committee (FOMC) announced Friday that it has “unanimously formally adopted comprehensive new rules for the investment and trading activity of senior officials.”
The FOMC is a committee within the U.S. Federal Reserve System charged with overseeing the nation’s open market operations.
The rules were first announced in October last year to strengthen “the impartiality and integrity of the Committee’s work by guarding against even the appearance of any conflict of interest,” the announcement details, elaborating:
Under the new rules, senior Federal Reserve officials are prohibited from … holding investments in in
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