Federal Reserve Governor Bowman: Views on Artificial Intelligence and Cryptocurrency Are About to Change

ChainCatcher news, according to Jinshi reports, Federal Reserve Governor Bowman stated that banks and regulators must embrace the benefits of new technologies such as artificial intelligence and cryptocurrencies, or their role in the economy may be diminished. She pointed out that regulators should ideally allow new uses to surge in a way that benefits the banking system and called for the industry to help regulators better understand the potential of blockchain and digital assets. Bowman also hinted that new rules may be developed to reduce regulatory scrutiny related to reputational risks.