Fed Bowman: Stable currency regulatory rules are being formulated to balance competition between banks and crypto companies

According to Foresight News, according to Sina Finance, Federal Reserve Vice Chairman Michelle Bowman said in a speech prepared for the House Financial Services Committee hearing that it will work hard to formulate new rules for banks and stablecoins. Regulators are seeking to ensure healthy competition among Wall Street, fintech and cryptocurrency companies. "As a regulator, my responsibility is to encourage innovation in a responsible manner, and we must continue to improve our ability to regulate the risks that innovation brings to safety and soundness."
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