Senate Confirms Bowman as Fed Vice Chair, Signals Crypto Support

- Senate confirms Michelle “Miki” Bowman as Fed Vice Chair (CoinDesk, June 4, 2025). - Bowman to influence Federal Reserve digital asset, stablecoin policies. The U.S. Senate confirmed Michelle “Miki” Bowman as Vice Chair for Supervision of the Federal Reserve on June 4, 2025, with a 48-46 vote. CoinDesk, Cointelegraph, The Block, and Coindoo reported this confirmation on June 4. Bowman has served on the Federal Reserve's Board of Governors since 2018 and maintains a cautious stance on unregulated central bank digital currencies (CBDCs) and stablecoins. Bowman historically emphasized cautious regulation of digital financial products while also recognizing their potential roles in the financial system. During her April nomination hearing, Bowman did not explicitly outline potential policies on digital assets; however, she recently demonstrated a more open approach toward digital innovation. For instance, in an October 2023 speech, Bowman emphasized responsible innovation, highlighting its importance in achieving policy goals like maintaining financial stability and fostering a safe, efficient payment system. Wyoming Senator Cynthia Lummis, a strong advocate for cryptocurrencies, praised Bowman’s confirmation, describing it as a pivotal moment for digital assets and an indicator of a promising future for these technologies. Lummis also commended Bowman’s dedication to evidence-based regulation over political influences. In addition, the Crypto Council for Innovation supported Bowman’s nomination, emphasizing her understanding of the evolving blockchain and digital asset landscape and noting her willingness to engage with the potential benefits and challenges that emerging technologies pose. As Vice Chair for Supervision, Bowman will significantly shape policy recommendations and supervise companies regulated by the Federal Reserve. Industry experts anticipate her leadership could foster a constructive approach to digital finance, which may include clearer guidelines on stablecoins, custodial regulations for banks, and Basel compliance processes. The Independent Community Bankers of America (ICBA) acknowledged Bowman's banking experience and deep understanding of community banking. Additionally, organizations like the American Bankers Association and SIFMA expressed their intent to collaborate with her. On June 5, 2025, CoinMarketCap reported that as of 12:00 UTC, Bitcoin (BTC) was trading at $35,002, its 24-hour trading volume up 3.5%. In the same period, Ethereum (ETH) was trading at $2,120, its price up 2.8%.