Lummis: Fed confirmation signals ’brighter future for digital assets’

Wyoming Senator Cynthia Lummis was one of the few voices in Congress tying Michelle Bowman’s confirmation to a win for cryptocurrency policies.

The US Senate has confirmed Michelle “Miki” Bowman as President Donald Trump’s pick to be vice chair for supervision for the Federal Reserve, signaling a potential change in the central bank’s regulatory approach after the departure of Michael Barr.

In a 48-46 vote on June 4, senators confirmed Bowman to be the vice chair for supervision, allowing her to introduce policy recommendations and oversee the supervision and regulation of companies under the Fed’s authority. Wyoming Senator Cynthia Lummis, often an advocate for cryptocurrencies in Congress, lauded the confirmation as a “turning point for digital assets.” 

“Miki’s commitment to evidence-based regulation over political considerations will strengthen America’s financial system,” said Lummis.

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