'Officials covered by the new rules will have 12 months to dispose of all impermissible holdings.' crypto cryptocurrency bitcoin $BTC
The Federal Open Market Committee announced Friday that it has “unanimously formally adopted comprehensive new rules for the investment and trading activity of senior officials.”
The rules were first announced in October last year to strengthen “the impartiality and integrity of the Committee’s work by guarding against even the appearance of any conflict of interest,” the announcement details, elaborating: In addition, they are also banned from “purchasing individual stocks or sector funds,” “entering into derivatives contracts,” and “engaging in short sales or purchasing securities on margin.” Cryptocurrency was not included in the October announcement.
The Federal Reserve expects the rules to apply to additional staff after further review and analysis.
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