TechFlow, December 2 — According to Bloomberg, Federal Reserve senior banking regulator Michelle Bowman plans to announce during a Tuesday hearing before the House Financial Services Committee that she will work toward establishing new regulatory rules for banks and stablecoins. The move aims to ensure healthy competition among traditional Wall Street financial institutions, fintech firms, and cryptocurrency companies. In prepared remarks, Bowman emphasized that regulators have a responsibility to encourage innovation in a responsible manner while continuously enhancing their oversight capabilities regarding potential safety and stability risks posed by innovation.
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