Federal Reserve Governor Bowman: The Federal Reserve does not want to hinder innovation in the cryptocurrency sector

ChainCatcher news, according to Bitcoin.com, Federal Reserve Governor Michelle W. Bowman stated at an event in Miami on Tuesday that while cryptocurrency activities may pose significant risks, the Federal Reserve does not want to hinder innovation. Bowman explained, "By stifling innovation, we may push the growth of this sector into the non-bank sector, leading to significantly reduced transparency and potential financial stability risks. We hope some banks continue to explore how to engage in activities related to cryptocurrencies."

Bowman noted that while some inflation indicators have decreased in recent months, the Federal Open Market Committee is expected to continue raising interest rates to tighten monetary policy. (Source link)