😱🚨We will either lead or fall behind! A Fed Council member sends a shocking message to the crypto community🇺🇸
The blockchain symposium held in Wyoming served as a significant platform for the US to highlight its weaknesses in cryptocurrency and blockchain. One of the prominent figures at the conference was Michelle Bowman, a member of the Board of Governors of the Federal Reserve System (#Fed). In her speech, Bowman emphasized that the US is at a turning point in this area and issued a historic warning to both the governor and the financial sector:
"We are losing ground. Either we will fall behind, or we will lead the story by responsibly embracing innovations."
Wyoming's crypto-friendly identity
Wyoming, one of the most progressive states in the US regarding cryptocurrency, hosted this symposium. Among the participants were crypto-friendly Senator Cynthia Lummis, Senator Tim Scott, known for his contributions to the Genius Act, former SEC Chairman Paul Atkins, Fed grant recipients, and representatives from the private sector.
Wyoming's role is not accidental; in recent years, the state has created one of the strongest regulatory infrastructures in the US by adopting advanced programs for blockchain and crypto assets.
Fed's crypto policy is softening
The most striking moment in Michelle Bowman's speech was the cessation of the Fed's one-party oversight of cryptocurrency. This signifies a long-awaited, consolidative partnership between banks and crypto companies, as well as the removal of pressure.
Bowman stated that banks will no longer be 'punished' and that crypto companies will overcome their 'fear of depositing'. This is seen as a significant positive signal for both the banking and crypto sectors.
Artificial Intelligence + Cryptocurrency: The Duality of a New Era
Another point that Bowman highlighted was the joint use of artificial intelligence and cryptocurrency technologies. She argued that this would bring significant benefits to banks and that an overly cautious and restrictive approach should be left behind.
This outlook indicates an acceleration of digital innovations in the financial sector.
Crypto offering for Fed employees
One of the most notable statements from Bowman was that Fed employees could also use a small amount of crypto assets. She presented this proposal using the following analogy:
"I wouldn't want someone who has never worn ski clothes to do the same with me."
In other words, according to Bowman, regulators need to gain firsthand experience to fully understand what they are monitoring.
Silence: Interest rate policy not commented on
Throughout her speech, Bowman focused on cryptocurrencies and blockchain but did not hesitate to comment on the Fed's interest rate policy. This demonstrates that we are in a period where the Fed is becoming the custodian of data related to cryptocurrency.
Conclusion: The US will choose its cryptocurrency future
Michelle Bowman's remarks indicate a period in which the US either consolidates its role as a leader in cryptocurrency and blockchain or risks falling behind. The message conveyed at the symposium in Wyoming was clear:
Flexibility in cryptocurrency oversight has begun to emerge.
The synergy of artificial intelligence and cryptocurrency is a new era.
It is now crucial for regulators to pay attention to technology.
The next steps for the US will require deep presence not only in the domestic financial sector but also in the global crypto ecosystem.
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