Fed’s Bowman Champions Crypto Integration in Banking System

Michelle Bowman, the U.S. Federal Reserve's vice chair for supervision, delivered a pro-crypto stance at the Wyoming Blockchain Symposium, urging banks to embrace digital assets or risk irrelevance. Her remarks signal a tectonic shift in regulatory sentiment.

"Banks that resist this innovation will play a diminished role in the financial system," Bowman warned, addressing the industry's frustrations with inconsistent oversight. The speech echoed crypto advocates' calls for tailored frameworks rather than forcing emerging technologies into legacy regulatory molds.

As the Fed's point person on stablecoin regulation under the GENIUS Act, Bowman's appointment three months ago now appears strategically timed. Her vision aligns with growing institutional demand for clear crypto rules amid surging adoption.