Fed senior officials will soon not be allowed to trade crypto, stocks and bonds By Cointelegraph

Fed senior officials will soon not be allowed to trade crypto, stocks and bonds

Cryptocurrency Feb 19, 2022 04:00PM ET

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Fed senior officials will soon not be allowed to trade crypto, stocks and bonds

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 officials, which include Reserve Bank first vice presidents and research directors, FOMC staff officers, the System Open Market Account manager and deputy manager, Board division directors who regularly attend Committee meetings, individuals designated by the Fed chair, and their spouses and children under 18 are:

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