Federal Reserve Governor Michelle Bowman is advocating for clear regulations governing banks and stablecoin issuers, aiming to foster fair competition between traditional financial institutions and the rapidly growing cryptocurrency sector. She plans to push forward with implementing the recently passed Genius Act, which mandates one-to-one reserves for stablecoins, effectively creating bank-like safeguards for crypto firms operating like banks. Bowman will also address Congress on capital reform efforts, including updates to Basel III Endgame rules. This focus on regulatory clarity comes amidst rising tensions between banks and crypto firms over access to federal charters.