Fed Chairman Powell denied that bitcoin would be added to the balance sheet.
On December 19, Powell told a press conference after the December China Standard Time meeting that the Fed did not intend to include bitcoin on its balance sheet.
“We are not allowed to own bitcoin,” Powell said, adding that the Federal Reserve Act regulated what the Fed could own and that the Fed did not seek to change it — an issue that should be considered by Congress, but the Fed does not want to change the law.
In January 2025, Donald Trump will be formally sworn in as president. Donald Trump spoke publicly on cryptocurrency markets and regulation many times during the election campaign and explicitly said he wanted to “Build the cryptocurrency capital of the world”.