The Federal Reserve is looking for a man to prepare a regulatory framework for cryptocurrencies. In addition, it is intended to evaluate the costs and benefits of stablecoins, a virtual currency that would be backed by a standard currency unit.
The task of the Digital Innovation Manager, what is the name of the position for which the demand is issued, will be to prepare the regulatory framework for cryptocurrencies. On LinkedIn, the Federal Reserve is looking for candidates who could evaluate the impact of digitization on financial services and prepare a regulatory and supervisory scheme for cryptocurrency platforms, for example.
The search for a man to regulate cryptocurrencies is in line with what Fed Governor Jerome Powell has previously said. The US central bank, he said, should focus on getting the cryptocurrency market under greater control. Christine Lagarde, president of the European Central Bank, expressed a similar vein some time ago. She even mentioned that cryptocurrencies are an appropriate tool for financing illegal practices or for money laundering.
Both the Fed and the ECB have also repeatedly announced plans to introduce the CBDC, the release of cryptocurrencies by the central bank itself.