Senate Confirms Bowman as Fed Vice Chair, Signals Crypto Support

@Paul, this matter is related to significant industry shifts and policy changes within the financial regulatory framework, so I’m assigning it to you.

Key event: On June 4, 2025, the US Senate confirmed Michelle "Miki" Bowman as vice chair for supervision of the Federal Reserve in a 48-46 vote. Bowman, known for her cautious stance on central bank digital currencies and stablecoins, is expected to influence the regulatory approach to digital assets. Wyoming Senator Cynthia Lummis praised the confirmation as a positive development for the future of digital assets.

Editor-in-Chief, here's an update on Michelle "Miki" Bowman's confirmation.

According to multiple sources including Cointelegraph, The Block, and Coindoo, on June 4, 2025, the U.S. Senate confirmed Michelle "Miki" Bowman as Vice Chair for Supervision of the Federal Reserve. The vote was 48-46.

Bowman has been a member of the Fed's Board of Governors since 2018. She is known for her cautious stance on central bank digital currencies (CBDCs) and stablecoins that lack regulatory frameworks. However, she has also acknowledged the potential role of stablecoins in digital payments, while warning they could be "less secure, less stable, and less regulated" than traditional money. During her April nomination hearing, she did not directly address potential policy positions on digital assets. More recently, in February 2025, comments from Bowman and Fed Governor Christopher Waller suggested the central bank may be taking a more open approach toward digital innovation. In an October 2023 speech, Bowman stated she views responsible innovation through the lens of accomplishing policy goals, including fostering a safe and efficient payment system and maintaining financial stability. She has also encouraged collaboration between state and federal governments to regulate stablecoins.

Wyoming Senator Cynthia Lummis, a vocal advocate for cryptocurrencies, praised Bowman's confirmation, calling it a "turning point for digital assets" and a signal of a "brighter future for digital assets." Lummis highlighted Bowman's commitment to "evidence-based regulation over political considerations." The Crypto Council for Innovation also supported Bowman's nomination, noting her "keen understanding of the evolving blockchain and digital asset landscape" and her "willingness to explore and discuss the potential benefits and challenges of emerging technologies."

As Vice Chair for Supervision, Bowman will influence policy recommendations and oversee the supervision and regulation of companies under the Fed's authority. Industry leaders anticipate her appointment may lead to a more constructive approach to digital finance from the Federal Reserve. Her oversight is expected to bring clarity on stablecoin guidelines, custodial regulations for banks, and Basel compliance processes. The Independent Community Bankers of America (ICBA) also congratulated Bowman, highlighting her experience as a former Kansas banking commissioner and her understanding of community banks. The American Bankers Association and SIFMA (Securities Industry and Financial Markets Association) also released statements congratulating Bowman and expressing their intent to work with her.

Paul, focus your article on the U.S. Senate's confirmation of Michelle "Miki" Bowman as Vice Chair for Supervision of the Federal Reserve on June 4, 2025, with a 48-46 vote. Highlight Bowman's history since joining the Fed's Board in 2018, her cautious stance on unregulated CBDCs and stablecoins, and her evolving openness towards digital innovation. Include key reactions, such as Wyoming Senator Cynthia Lummis's praise and support from the Crypto Council for Innovation. Emphasize Bowman's potential influence on digital finance policies and the anticipated impacts on regulations regarding stablecoins, banking, and digital assets. Avoid redundant details; keep the focus on the key event and its significance.

Senate Confirms Bowman as Fed Vice Chair, Signals Crypto Support

• On June 4, 2025, CoinDesk reported that the U.S. Senate confirmed Michelle “Miki” Bowman.
• Bowman will influence Federal Reserve policies on digital assets and stablecoins.

The U.S. Senate confirmed Michelle “Miki” Bowman as Vice Chair for Supervision of the Federal Reserve on June 4, 2025, with a vote of 48-46. Bowman has been a member of the Federal Reserve's Board of Governors since 2018 and is known for her cautious stance on unregulated central bank digital currencies (CBDCs) and stablecoins.

On June 4, 2025, Cointelegraph, The Block, and Coindoo reported that the U.S. Senate confirmed Bowman to her new role. Bowman has a history of emphasizing cautious regulation of digital financial products while recognizing their potential roles in the financial system. During her April nomination hearing, Bowman did not explicitly outline potential policies on digital assets but has recently shown a more open approach toward digital innovation. In a speech in October 2023, Bowman emphasized the importance of responsible innovation in achieving policy goals like maintaining financial stability and fostering a safe, efficient payment system.

Wyoming Senator Cynthia Lummis, a strong proponent of cryptocurrencies, praised Bowman’s confirmation, describing it as a “turning point for digital assets” and an indication of a promising future for these technologies. Lummis commended Bowman’s dedication to evidence-based regulation over political influences. The Crypto Council for Innovation also supported Bowman’s nomination, emphasizing her understanding of the evolving blockchain and digital asset landscape and her willingness to engage with the potential benefits and challenges posed by emerging technologies.

As Vice Chair for Supervision, Bowman will play a significant role in shaping policy recommendations and supervising companies regulated by the Federal Reserve. Industry experts anticipate that her leadership could foster a constructive approach to digital finance. This may include clearer guidelines on stablecoins, custodial regulations for banks, and Basel compliance processes. The Independent Community Bankers of America (ICBA) acknowledged her banking experience and deep understanding of community banking, and organizations like the American Bankers Association and SIFMA expressed their intent to collaborate with her.

As of June 5, 2025, 12:00 UTC, Bitcoin (BTC) is trading at $35,002, with a 3.5% increase in 24-hour trading volume, according to CoinMarketCap. Ethereum (ETH) is priced at $2,120, showing a 2.8% increase in the same period.