Congress Presses the Fed on Its Role in Crypto

[tradelikepro]

Rep. Stephen Lynch challenged Fed Vice Chair Michelle Bowman over her past remarks encouraging banks to “engage fully” with digital assets.
The exchange revealed confusion at the congressional level—especially around what counts as a digital asset versus a stablecoin.

Bowman clarified that the Fed’s work is tied to congressional authorization under the GENIUS Act, which requires the Fed to build regulatory frameworks for payment stablecoins and related digital asset activity.

[Nahid Hossen]

The Fed’s involvement in crypto will determine how integrated digital assets become in traditional finance.