Federal Reserve Governor Bowman: Ensuring the Banking System's Capacity to Support Digital Asset-Related Activities

Odaily News According to The Block reporter Sarah Wynn's post on platform X, Federal Reserve Governor Bowman testified before the U.S. Senate Committee on Banking, Housing, and Urban Affairs. It is reported that the Federal Reserve is advancing the GENIUS project and plans to "clarify the approach to digital asset handling, ensuring the banking system has the capacity to support digital asset-related activities." Bowman emphasized: "As a regulator, my responsibility is to encourage innovation in a responsible manner, while continuously enhancing supervisory capabilities to address the safety and soundness risks that innovation may bring."