Fed chair nominee says crypto is already part of US financial industry

Kevin Warsh, a nominee for Federal Reserve Chair, said at his confirmation hearing that digital assets are already part of the U.S. financial services industry. His remark came in response to a question from U.S. Senator Cynthia Lummis, who asked if he believes digital assets should be integrated into the financial system to provide Americans with new investment opportunities and consumer protections. Warsh is known to have made early-stage investments in crypto infrastructure and has reportedly agreed to sell most of his financial assets.