Fed recruits team of cryptocurrency specialists

In 2019, the U.S. Federal Reserve began looking for its first employee specializing in digital currencies and the blockchain industry. The regulator promised the candidate a salary of $250,700 a year.
Fed spokesman Michael Barr confirmed the regulator’s plans this week. He also announced the Fed’s intention to hire more cryptocurrency specialists. Such employees are needed to ensure that the Fed not only knows all the ins and outs of the blockchain industry, but can also regulate it and innovate.
According to Barr, the influence of the crypto market is growing rapidly. It is no longer possible to ignore this instrument. However, the U.S. banking sector should be wary of digital currencies and take their volatility into account. In addition, credit institutions should keep in mind the lack of legislation in the U.S. for the cryptosphere.

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