Senator Lummis heralds Bowman’s appointment as a turning point for crypto policy, promising a more favorable regulatory environment for digital assets.
The U.S. Senate confirmed Michelle Bowman as the Federal Reserve's Regulatory Vice Chair with a narrow 48-46 vote. Senator Cynthia Lummis described the appointment as a critical shift in the regulatory approach toward digital assets, anticipating a brighter future for the industry. Bowman's confirmation is expected to influence the Fed's supervisory framework regarding cryptocurrency banking access and stablecoin issuance, amidst ongoing legislative discussions.