Michelle Bowman, Vice Chair of the Federal Reserve, says "We shouldn't be overly cautious in introducing virtual asset regulation"

Recently, Michelle Bowman, the newly appointed Vice Chair of the Federal Reserve, shared her thoughts on the approach to introducing virtual asset (cryptocurrency) regulations.

According to a Coindesk report on the 20th (local time), Vice Chair Michelle Bowman attended the Wyoming Blockchain Symposium and stated, "Banks and regulatory agencies have adopted an 'overly cautious mindset' when implementing new rules pertaining to the virtual asset industry, and I believe they should abandon this way of thinking."

She added, "Banks should support the surge and promotion of digital assets, and the Federal Reserve needs to provide rules to the industry that do not hinder the growth of this field."

Michelle Bowman assumed the role of Vice Chair, succeeding Michael Barr, after confirmation by the United States Senate in June.