The Fed is Creating a Team of Crypto Experts

In 2019, the US Federal Reserve began searching for a specialist in digital currencies and the blockchain industry, offering a salary of $250,700 a year.

Michael Barr, a Fed spokesman, has confirmed the regulator’s plans this week, revealing that the need for such experts is necessary in order for the Fed to stay informed and regulate the crypto market.

Barr has also noted that the influence of the crypto market is rapidly increasing, and the US banking sector must be aware of the volatility of digital currencies and the lack of existing legislation in the US.

According to him, the Fed will need these specialists soon, in order to develop a suitable regulatory framework for stablecoins.