Kevin Warsh Nominated as Fed Chair; Kraken Secures Federal Reserve Master Account

Kevin Warsh has been formally nominated to succeed Jerome Powell as Federal Reserve Chair, with the White House transmitting President Donald Trump's nomination to the Senate this week, CryptosRus reports. Warsh, a Federal Reserve Governor from 2006 to 2011, previously called Bitcoin a "good policeman for policy," saying it promotes monetary discipline and can serve as a store of value while cautioning against fully replacing fiat currency. Separately, Kraken obtained a Federal Reserve master account, becoming the first U.S. digital asset bank with direct access to the Fed's payment system for settling transactions directly with the central bank.