Federal Reserve Vice Chairman: Banks should actively embrace cryptocurrencies

News 1 reported that there are opinions that banks should actively embrace cryptocurrencies and expand their role in the financial market.
According to reports, US Federal Reserve Vice Chair Michelle Bowman said, "Banks should actively embrace cryptocurrencies."
"If we don't allow it, it will have a diminished role in financial markets," he emphasized. Prior to this, the vice chairman made clear his position that the Federal Reserve Board should allow its employees to hold virtual currencies.
He also stressed that regulations on virtual currencies must be actively relaxed. "Stablecoins and tokenized assets will reshape the financial system," he said. "New technologies
"It is not appropriate to apply existing regulations to this," he said.