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Federal Reserve Setting Up New Squad of Crypto Specialists

The Federal Reserve is putting together a “specialized team of experts” to help it supervise the crypto sector, Michael Barr, the central bank’s vice chairman for supervision, said Thursday.

The Fed’s top regulatory official said the digital-assets specialists are needed to “help us learn from new developments and make sure we're up to date on innovation in this sector.”

Barr, the Fed official with the most potential influence over how the central bank regulates and supervises crypto, echoed the comments of Fed Chairman Jerome Powell this week that the banking regulator is hoping to preserve crypto innovations as it moves forward to put up guardrails.

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