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Federal Reserve Governor Bowman: Views on Artificial Intelligence and Cryptocurrency Set to Change
Summary: According to sources, Federal Reserve Governor Bowman stated that banks and regulatory agencies must embrace the benefits of new technologies such as artificial intelligence and cryptocurrency, or risk weakening their role in the economy. She emphasized that regulatory agencies should ideally allow new use cases to proliferate in a way that benefits the banking system, ...
According to sources, Federal Reserve Governor Bowman stated that banks and regulatory agencies must embrace the benefits of new technologies such as artificial intelligence and cryptocurrency, or risk weakening their role in the economy. She emphasized that regulatory agencies should ideally allow new use cases to proliferate in a way that benefits the banking system, and called on the industry to help regulators better understand the potential of blockchain and digital assets. Bowman also hinted at the possibility of implementing new rules to reduce regulatory scrutiny related to reputation risks.
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Link: Federal Reserve Governor Bowman: Views on Artificial Intelligence and Cryptocurrency Set to Change [Copy]
