tldr; Federal Reserve Vice Chair for Supervision Michelle Bowman suggested allowing Fed staff to hold small amounts of cryptocurrency to better understand its technology. She argued this could help recruit and retain experts and improve staff knowledge. Bowman emphasized the need for regulators to embrace technological advancements in finance, warning that blockchain could transform banking regardless of regulatory response. She acknowledged risks but highlighted potential benefits of new technology in her speech at a Wyoming blockchain event.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
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tldr; Federal Reserve Vice Chair for Supervision Michelle Bowman suggested allowing Fed staff to hold small amounts of cryptocurrency to better understand its technology. She argued this could help recruit and retain experts and improve staff knowledge. Bowman emphasized the need for regulators to embrace technological advancements in finance, warning that blockchain could transform banking regardless of regulatory response. She acknowledged risks but highlighted potential benefits of new technology in her speech at a Wyoming blockchain event.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Define „a little“