In testimony before the House Financial Services Committee, Federal Reserve Board Director, Division of Supervision and Regulation Michael S. Gibson described the FRB's approach to the supervision and regulation of innovation.
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Federal Reserve Board Vice Chair for Supervision Michael S. Barr highlighted the risks and benefits of crypto-asset technologies to the U.S. payment system and called for a unified approach to oversight among regulators.
Federal Reserve Board Governor Michelle W. Bowman reviewed the FRB's response to emerging financial technologies in the banking industry.
In a speech before the U.S. Monetary Policy Forum, Federal Reserve Board Governor Lael Brainard highlighted the increasing digitalization and decentralization of global finance and considered the implications of such trends for the financial system.
In a new report, the Federal Reserve Board considered the merits of a potential U.S. central bank digital currency and invited public comment on both a proposed U.S. CBDC and the current domestic payments system.