The United States Fed will boost Bitcoin regulation

The new Vice President of Supervision of the Federal Reserve (FED), Michelle W. Bowman, says that offering clarity in the supervision of digital assets will be one of the priorities of their management.

Bowman made these statements this June 6, during his first public speech as vice president after officially assuming the position, after being confirmed by the United States Senate as regulatory of the Central Bank.

During her speech, the new official spoke of the initiative that plans to carry out within the Fed, in order to Modernize Banking Supervision and Regulation.

He spoke specifically of “solving the uncertainty that exists around the regulation” of Bitcoin (BTC) and other cryptocurrencies and their use within the banking entities.

He stressed that the evolution of supervision guidelines, especially for banks that explore new financial technologies, must offer clearer expectations to facilitate the safe adoption of activities related to digital assets and artificial intelligence.

In that sense, the official considers that the supervision guidelines that have been applied so far have generated a lot ambiguity.

The uncertainty in supervision expectations has long been an obstacle to banks that seek to innovate, including banks that participate in digital asset activities or incorporate new technologies such as artificial intelligence to improve the efficiency and delivery of products and services.

Michelle W. Bowman, Fed Supervision Vice President.

The official, who has served at the Fed Board as governor since 2018, says that the Federal Reserve must ensure that innovation in digital assets is not braked by imprecise or obsolete supervision. Consequently, he promised to review the existing guidelines, including SR letters (Supervision requirements), which are the regulatory documents issued by the Fed on the use of cryptocurrencies in the banks.

Bowman will also review the third -party risk management protocols, to eliminate documents that inhibit the adoption of cryptocurrencies.

It is expected that Bowman supports the Reforms to supervision standards That applies the organism. This, in contrast to his predecessor, Michael Barr, who resigned from office last January before Donald Trump assumed the presidency.

Barr’s resignation opened the doors to the arrival of the new bank supervisor, who was nominated by Trump for office. His designation was part of a strategy that seeks to place people related to cryptocurrencies In key positions of the public institutions of the United States, and promote new favorable regulations for the ecosystem.

According to analysts, the new official is also expected to point to the flexibility of the standards of leverage of large banks, and a greater deployment of simpler capital standards for large companies.