Federal Reserve Against Banks Having Large Crypto ETF Holdings
Amid the growing prevalence of digital assets in the mainstream, the sector has become an increasingly important talking point. In what is bound to be a massive political point of contention in 2024, one official has made his stance clear. Indeed, a Federal Reserve Governor has spoken out against banks “holding large amounts of crypto ETFs.”
Speaking at a conference in the Bahamas today, Christopher Waller discussed not wanting banks to maintain large holdings of crypto ETFs. Conversely, the statement arrived as Fed Chair Jerome Powell recently called for Stablecoin legislation.
Federal Reserve Governor Doesn’t Want Large Crypto ETF Holdings From Banks
At the start of 2024, the digital asset market saw a landmark decision to kick off the new year. Indeed, the US Securities and Exchange Commission (SEC) greenlit 11 Spot Bitcoin ETFs. Subsequently, that approval set the stage for what should be a year of gains for the asset.
However, it also pushed Bitcoin and cryptocurrencies deeper into the mainstream limelight. Secondly, the asset class has become a political talking point heading into a crucial election year. Amid that, Federal Reserve Governor Christopher Waller spoke out against banks banks holding large amounts of Crypto ETFs.
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