PANews reported on February 26th that, according to a post by Sarah Wynn of The Block, the U.S. Senate Banking Committee hearings regarding banking regulators havePANews reported on February 26th that, according to a post by Sarah Wynn of The Block, the U.S. Senate Banking Committee hearings regarding banking regulators have
Federal Reserve Chair Jerome Bowman: Ensure the banking system is well-equipped to support digital asset activity and encourage innovation in a responsible manner.
PANews reported on February 26th that, according to a post by Sarah Wynn of The Block, the U.S. Senate Banking Committee hearings regarding banking regulators have just begun. In her prepared testimony, Federal Reserve Vice Chair for Supervision Michelle Bowman stated that the central bank is committed to implementing the GENIUS stablecoin law and plans to "provide clarity on how digital assets are handled to ensure the banking system can adequately support digital asset activities." Bowman stated, "As a regulator, my responsibility is to encourage innovation responsibly, and we must continuously improve our ability to oversee the risks that innovation may pose to safety and soundness."
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