President Trump nominates Mr. Milan, a supporter of virtual currency, to the Board of Governors of the Federal Reserve.

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## A person advocating for the rationalization of coin regulations

President Donald Trump announced on the 8th that he would nominate Stephen Milan, who is friendly towards virtual coins, to the Board of Governors of the Federal Reserve System (FRB).

Mr. Milan, who currently serves as the Chairman of the Economic Advisory Council of the current administration, will assume the vacant board position until January 31, 2026, after which a permanent successor is expected to be sought.

The Board of Governors of the FRB consists of 7 members, including the chair and vice chair, and serves as the highest decision-making body for monetary policy. Mr. Milan holds a Ph.D. in economics from Harvard University and has a background of serving in the first Trump administration, with President Trump praising that "his expertise in the world of economics is unparalleled."

Mr. Milan is a person who advocates for the streamlining of cryptocurrency regulations, and he is also a former senior strategist at the hedge fund Hudson Bay, which trades FTX bankruptcy claims, with experience working at the Treasury Department and Fidelity Investments.

Mr. Milan is also known for his criticism of Federal Reserve Chairman Jerome Powell and is aligned with President Trump's pressure for rate cuts. However, Treasury Secretary Scott Bessent stated recently that President Trump is hoping for Chairman Powell's resignation rather than dismissal, and he has repeatedly expressed the policy of allowing Powell to continue until the end of his term in May next year.

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GateUser-9d0aff51vip
· 21h ago
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