Fifty-four lawmakers supported the appointment, while 45 opposed it. Warsh will replace Jerome Powell for a four-year term, as Powell's tenure ends on May 15. However, Powell will remain on the Federal Reserve Board of Governors until 2028. From 2006 to 2011, Warsh served on the regulator board under both George W. Bush and Barack Obama. Kevin also worked at Morgan Stanley. Warsh has delivered several reports on cryptocurrencies, calling Bitcoin an "important asset." He views digital assets as an integral part of U.S. financial services. Warsh has promised to divest his financial assets, including cryptocurrencies and shares in AI companies, upon taking office. He and his wife own $192 million, including 30 tokens. However, most of these positions are less than $1,000. Kevin also holds stakes in over a dozen crypto companies, including DeFi services and prediction markets.