Odaily Planet Daily reports that The Block journalist Sarah Wynn posted on the X platform that Federal Reserve Board member Bowman testified at a hearing before the Senate Committee on Banking, Housing, and Urban Affairs. It is reported that the Federal Reserve is advancing the GENIUS project and plans to “clarify the handling of digital assets to ensure the banking system’s ability to support digital asset-related activities.” Bowman emphasized, “As a regulator, my responsibility is to encourage innovation responsibly while continuously enhancing supervisory capabilities to address the safety and soundness risks that innovation may bring.”
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Circle stock price surges 87% in a month! How the US-Iran war and trader position adjustments are driving the rally?
Circle's stock price surged 87% in a single month due to the impact of the US-Iran conflict. Analysts have pointed out that its stock is overvalued, and the discounted cash flow model shows an intrinsic value of $42.25. The current stock price of $111.84 is 164.7% higher. The price-to-sales ratio also emphasizes that the stock is overvalued, indicating a high risk of overestimation.
CryptoCity7m ago
Jason Atkins: China's RWA ban signals market direction; the dollarization trend of stablecoins cannot be stopped
China issues a ban on unauthorized Renminbi-pegged stablecoins and considers RWA tokenization activities illegal, aiming to prevent industry expansion. Analysts believe that this ban cannot stop the global demand for USD stablecoins, and Hong Kong's stablecoin licensing may also present opportunities for Chinese-funded banks, indicating a subtle regulatory adjustment. Overall, China's measures are targeted at the domestic market rather than an obstacle to global RWA development.
MarketWhisper58m ago
Bank of Canada tokenized bonds implemented, 100 million CAD trial for integrated issuance and settlement
The Bank of Canada successfully completed "Project Samara," issuing 100 million CAD in tokenized bonds. Utilizing distributed ledger technology, the project enables real-time bond issuance, trading, and settlement, with wholesale digital dollars used for settlement. This innovation can shorten settlement times, reduce risks, and enhance transparency. Future progress will need to overcome regulatory and integration challenges.
MarketWhisper2h ago
U.S. CFTC Chair Selig Sets Key Focus: Launching Cryptocurrency Perpetual Contracts in Weeks, Ending Turf Battle with SEC
CFTC Chairman Mike Selig emphasized the future focus areas at the FIA conference, including the launch of real crypto perpetual contracts within a few weeks, resolving regulatory disputes with the SEC, and establishing regulatory standards for prediction markets. Selig advocates for a "minimum effective intervention" approach to regulation, aiming to promote market liquidity and clear regulations, reduce political interference, and reposition the CFTC as a facilitator of the market.
動區BlockTempo3h ago
Bank of Canada issues its first tokenized bond! An integrated ledger for issuance, bidding, and settlement
The Bank of Canada completed the "Project Samara" experiment, successfully issuing $100 million CAD in tokenized bonds through distributed ledger technology for issuance and settlement, enhancing efficiency in the bond market. However, regulatory and infrastructure challenges still need to be addressed. The experiment demonstrated the potential impact of digital financial infrastructure on traditional markets.
CryptoCity4h ago
Lummis pushes for crypto tax exemptions before stepping down, CLARITY bill stalemate remains unresolved
Wyoming Senator Cynthia Lummis is advocating for tax exemptions on cryptocurrency transactions under $300 to promote everyday use of cryptocurrencies. However, the CLARITY Act faces obstacles in the Senate, mainly due to regulatory disputes over crypto token stocks and opposition from the banking industry. With Lummis stepping down soon, the legislative prospects remain uncertain.
MarketWhisper4h ago
