Federal Reserve chair candidate supports the inclusion of crypto in the financial system; lawmakers raise regulatory questions.

According to Huoxun Finance, several officials made comments regarding digital assets at a Senate hearing. One official stated that digital assets have become part of the US financial system and supported their inclusion to provide investors with more opportunities and protection. This statement is seen as a policy signal of openness towards the crypto industry should he become the Federal Reserve Chairman. He has previously stated that Bitcoin is an important asset that helps in policymaking. Another official expressed concerns during the hearing, mentioning potential risks such as shadow accounts in the crypto space and emphasizing the need for stronger regulation and prevention of abuse.