Federal Reserve Chair Candidate Supports Inclusion of Crypto in Financial System, Lawmakers Raise Regulatory Concerns

Odaily News Kevin Warsh stated during a Senate hearing that digital assets "have become part of the U.S. financial system" and supports their inclusion into the financial system to provide investors with more opportunities and protection.

This statement is seen as a signal of a generally more open policy towards the cryptocurrency industry should he become the Federal Reserve Chair. Warsh has previously referred to Bitcoin as an "important asset that aids in policy-making."

However, Elizabeth Warren expressed concerns during the hearing, mentioning potential risks in the crypto space such as "sock puppet" accounts, emphasizing the need for enhanced regulation and prevention of abuse.