The vice chairperson of the Federal Reserve for financial supervision has supported Federal Reserve staff to hold a small amount of cryptocurrencies

On Aug. 20, Bowman, the Federal Reserve's vice chairperson of financial regulation, suggested Tuesday that Federal Reserve staff should be allowed to hold a small number of crypto products, arguing that experience would help them better conduct their regulatory work on these financial marekts. Loosening restrictions on employee investments could also help recruit and retain professional bank examiners, while a "minimum" holding of cryptocurrencies and other digital assets would help employees gain a practical understanding of these products, Bowman said. "There is no substitute for hands-on practice and understanding the holding and transfer process of cryptoassets," she said in prepared remarks at a cryptocurrency conference in Wyoming. Bowman did not disclose specific information such as the specific amount or type of holdings she is considering, but her remarks once again suggest that the Trump administration's regulators are becoming more friendly towards the cryptocurrency space.