Pro-Crypto Kevin Warsh Confirmed as the Next Fed Chair

The Federal Reserve just got its most crypto-engaged leader in history.

Today, the U.S. Senate confirmed Kevin Warsh as the next Chair of the Federal Reserve, with the Senate first voting 51–45 to seat him on the Fed Board of Governors, followed by a separate vote to confirm him as Chair. Warsh, 56, replaces Jerome Powell, whose term ends Friday, May 15. He is expected to chair his first Federal Open Market Committee meeting on June 16–17.

Why Crypto Cares

Warsh is the first incoming Fed chair to have publicly engaged with Bitcoin as an asset rather than dismissed it. His record on crypto is on the public record:

2018: In a Wall Street Journal op-ed, he described Bitcoin as a potential “sustainable store of value, like gold.”
2021: On CNBC’s Squawk Box, with Bitcoin near $30,000, he said: “If you’re under 40, Bitcoin is your new gold.”
2025: At the Hoover Institution, he said: “Bitcoin does not make me nervous” and called it a useful “policy enforcer.”
2026: His financial disclosure revealed personal exposure to more than 20 crypto and Web3 companies, including Bitwise (a major spot Bitcoin ETF issuer), Electric Capital, and Bitcoin Lightning infrastructure. He has pledged to divest most of those holdings to comply with Fed ethics rules.

That track record matters because it suggests the next Fed chair has studied crypto on its own terms, not just observed it from a distance.

What This Could Mean

The Fed has direct influence over how banks interact with digital assets, including custody, settlement, and stablecoin oversight. Under Powell, the Fed took a cautious posture. A Warsh-led Fed is widely expected to revisit some of those guardrails, though any policy changes would go through the central bank’s normal rulemaking process and take time.

Warsh has also been publicly skeptical of a retail-facing U.S. central bank digital currency (CBDC), aligning with the broader pro-private-stablecoin direction the industry has pushed. And while he has called for “regime change” at the Fed and argued the benchmark rate can be lower, he inherits a complicated inflation picture. April producer prices rose 6% year-over-year, and Fed policymakers are actively debating whether the next move should be a cut or a hike. His actual policy path will depend on incoming data and the views of the FOMC, which sets rates as a group.

The takeaway is not a prediction about rates or prices. It is that the U.S. now has a Fed chair who treats digital assets as a real part of the financial system, at the same moment the CLARITY Act is moving through Congress and the White House is targeting July 4 to sign comprehensive crypto legislation into law.

The pieces of a more coherent U.S. crypto policy environment are coming together.

What’s Next For Crypto?

As U.S. crypto policy enters this new chapter, more investors may be thinking about how digital assets fit into their portfolio. At iTrustCapital, investors can buy, sell, and hold cryptocurrency through a secure Premium Custody Account or a tax-advantaged* Crypto IRA, giving you flexible ways to participate as the landscape evolves.

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*Some taxes may apply.

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