Senate Approves Michelle Bowman for Fed Vice Chair – Impact on Crypto Regulation

Michelle Bowman was confirmed as Federal Reserve Vice Chair for Supervision, signaling a significant shift in the regulatory landscape for cryptocurrencies. Her confirmation has implications for how stablecoins are regulated and crypto companies gain access to banking services. 48 senators voted in favor of Bowman’s appointment while 46 opposed. This narrowly approved vote signifies the political divide on financial regulations.