Fed senior officials will soon not be allowed to trade crypto, stocks and bonds
The rules were intended to “support public confidence ... by guarding against even the appearance of any conflict of interest.” The Federal Open Market Committee, or FOMC, has approved rules that would ban senior officials at the Federal Reserve from purchasing and holding cryptocurrencies and other investments.In a Friday announcement, the FOMC said that starting on May 1, senior Federal Reserve officials already working at the agency would have one year to “dispose of all impermissible holdings,” while new officials would have six months to do so. The new rules specify that Fed senior....
Related News
Per a press release, the U.S. Federal Reserve’s senior officials will be unable to trade crypto, purchase individual stocks, hold an investment in individual bonds, commodities, and even foreign currencies. The FED’s Federal Open Market Committee made the announcement today and claimed the rules have been adopted with a unanimous vote. Related Reading | Warren […]
Bitcoin markets will behave more like that of Treasury bonds and gold during market recovery, said the analysts. The latest crypto market research from Bloomberg Intelligence suggests that Bitcoin may start to behave more like United States (U.S.) Treasury bonds and gold, rather than stocks.In its August Crypto Outlook report, penned by Senior Commodity Strategist Mike McGlone and Senior Market Structure Analyst Jamie Coutts, the research unit compared Bitcoin markets to those of gold, bonds, and oil.The authors suggested that macroeconomic influences such as the Federal Reserve’s monetary....
The new rules extended the ban first announced in October to include bitcoin and cryptocurrencies.
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....
A bill based on the proposed framework banning crypto investments could help to "restore the public's faith and trust in their public officials," according to Zoe Lofgren. Members of the United States House of Representatives and Senate as well as Supreme Court justices currently trading cryptocurrencies may have to stop HODLing while in office should a bill get enough votes.According to a framework released on Thursday, chair Zoe Lofgren of the Committee on House Administration — responsible for the day-to-day operations of the House — said she had a “meaningful and effective plan to....