Odaily Planet Daily reports that The Block journalist Sarah Wynn posted on the X platform that Federal Reserve Board member Bowman testified at a hearing before the 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 handling of digital assets to ensure the banking system’s ability to support digital asset-related activities.” Bowman emphasized, “As a regulator, my responsibility is to encourage innovation responsibly while continuously enhancing supervisory capabilities to address the safety and soundness risks that innovation may bring.”
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