PANews reported on February 11th that according to Fox Business reporter Eleanor Terrett, Federal Reserve Republican directors Michelle Bowman and Christopher Waller showed a more open stance towards the encryption industry in their speeches on February 7th, marking a shift in the Federal Reserve's regulatory attitude towards digital assets.
• Bowman emphasized that regulations should promote financial innovation rather than suppress it, and warned that excessive emphasis on risk control could impede long-term innovation in the banking system. She pointed out that Federal Reserve regulatory policies should not restrict compliant customers and businesses from accessing banking services.
• Waller believes that stablecoins can expand the global influence of the US dollar and support the development of the field under a "sound regulatory framework".
This shift in position is worth noting, especially as the Trump administration may appoint one of them as the vice chairman for Federal Reserve supervision, a position that will oversee the interaction between the banking system and the encryption industry. Previously, both had voted against Custodia Bank joining the Federal Reserve system, but their current remarks indicate that the Federal Reserve may adopt a more friendly regulatory attitude towards encryption currencies in the future.
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The change in attitude of Federal Reserve officials may bring a more favorable regulatory environment for the encryption industry.
PANews reported on February 11th that according to Fox Business reporter Eleanor Terrett, Federal Reserve Republican directors Michelle Bowman and Christopher Waller showed a more open stance towards the encryption industry in their speeches on February 7th, marking a shift in the Federal Reserve's regulatory attitude towards digital assets. • Bowman emphasized that regulations should promote financial innovation rather than suppress it, and warned that excessive emphasis on risk control could impede long-term innovation in the banking system. She pointed out that Federal Reserve regulatory policies should not restrict compliant customers and businesses from accessing banking services. • Waller believes that stablecoins can expand the global influence of the US dollar and support the development of the field under a "sound regulatory framework". This shift in position is worth noting, especially as the Trump administration may appoint one of them as the vice chairman for Federal Reserve supervision, a position that will oversee the interaction between the banking system and the encryption industry. Previously, both had voted against Custodia Bank joining the Federal Reserve system, but their current remarks indicate that the Federal Reserve may adopt a more friendly regulatory attitude towards encryption currencies in the future.