Fed Dismisses Bitcoin Reserves: "Not in Our Legal Scope," Says Powell Following an interest rate drop on Wednesday, Federal Reserve Chair Jerome Powell forcefully reaffirmed the central bank's stance on Bitcoin at a press conference. Powell clarified that legal constraints preclude the U.S. government from establishing a Bitcoin reserve when questioned about the prospect of doing so. He clarified: "We are not permitted to possess Bitcoin. We don't want to alter the Federal Reserve Act's definition of what we can hold. Congress, not the Fed, should make changes to those laws. You can read more here: https://learn2.trade/fed-dismisses-bitcoin-reserves-not-in-our-legal-scope-says-powell