By Michael S. Derby
NEW YORK (Reuters) – Federal Reserve Chair Jerome Powell stated on Wednesday that the U.S. central financial institution has no need to be concerned in any authorities effort to carry massive quantities of bitcoin.
“We’re not allowed to personal bitcoin,” Powell stated at a press convention following the most recent Federal Open Market Committee assembly, the place policymakers reduce charges as anticipated whereas signaling a much less sure path for financial coverage within the months forward.
When it comes to the authorized points round holding bitcoin, “that’s the type of factor for Congress to think about, however we’re not searching for a legislation change on the Fed,” Powell stated.
The Fed chief was addressing the prospect of central financial institution involvement within the concept of the federal government constructing a so-called Strategic Reserve as soon as President-elect Donald Trump takes workplace. The Fed chief’s feedback pushed the worth of the asset, which has rallied sharply for the reason that election, down.
