Warsh Sworn In as Fed Chair; Skinny Master Accounts Advance for Crypto

Kevin Warsh, holding $100 million across 30 crypto projects, was sworn in as Fed Chair on May 22 after a 54-45 Senate vote. The move follows President Trump’s May 19 executive orders directing regulators to review crypto firms’ access to Fed payment rails within 90 days and strengthen BSA oversight. On May 20 the Federal Reserve published its revised “skinny” master-account proposal, opening a 60-day comment period that excludes intraday credit and interest. Earlier, on May 18, the Bank of England and FCA launched a tokenization consultation targeting near-24/7 settlement by 2031. Bitcoin traded between $76,570 and $77,389 as markets digested the incremental policy support.