- Fed officials can no longer trade or own any sort of digital assets and stocks.
- Official announcement from Federal Open Market Committee (FOMC) spikes fire.
- Limited time period allotted to dispose of all their digital and stock holdings.
This particular official statement from the Federal Reserve is quite hysterical. With cornering the crypto industry as much as possible, of course on good terms to maintain the economy of the nation with fiat money, now, the Federal Reserve puts out official rules for their very own committee members evidently.
This particular act by the Federal Reserve points out very well that the Feds foresee no possible discrimination on any basis and they work only towards the betterment of the country’s economy.
Fed Officials Crypto Ban
About just 2 to 3 hours back from the time of writing, the Federal Reserve officially puts out a circular basically for their own committee members. Accordingly, the Federal Reserve’s official Twitter page came out with the news.
FOMC formally adopts comprehensive new rules for investment and trading activity: https://t.co/NOPJbWwCdn
— Federal Reserve (@federalreserve) February 18, 2022
The Federal Open Market Committee (FOMC) has now come up with new rules and regulations for their committee members, the Fed officials. Accordingly, the FOMC states that all the senior Fed officials are banned and restricted from indulging in the tarde of any sort of digital assets or stocks. This includes Bitcoin (BTC), Non Fungible Token (NFT), Altcoins, and all such similar digital assets. Indeed on the whole, the FOMC has banned Fed officials completely from owning any sort of crypto or other crypto attributes evidently.
In spite of this, these rules and regulations will be into action starting from May 1, 2022. For all those who are owning any sort of crypto of digital assets, the FOMC grants a grace period of 1 year for all the senior Fed officials to completely dispose of all cryptos, digital assets, bonds and stocks. In addition, for the other recently joined Fed officials, the FOMC grants a time period of 6 months for the same.
Moreover, all other additional subordinate Fed staff will be individually studied, reviewed and analyzed, whether they are subject to the same rules and regulations or not.
