Fed pick Warsh backs crypto’s place in finance as Warren raises ‘sock puppet’ concerns in hearing
The Block
Federal Reserve nominee Kevin Warsh expressed support for digital assets during his hearing, while Senator Elizabeth Warren voiced concerns regarding his potential independence.Summary
During his Senate Banking Committee nomination hearing, Federal Reserve chair nominee Kevin Warsh affirmed that digital assets are already integrated into the U.S. financial system. While Warsh expressed support for the sector's role in providing investment opportunities, he simultaneously opposed the issuance of a central bank digital currency (CBDC). The hearing also saw intense scrutiny from Senator Elizabeth Warren, who cautioned that Warsh could serve as a 'sock puppet' for the president, potentially leveraging the Fed to benefit the administration’s personal or political interests.
(Source：The Block)