The US Senate Banking Committee will make a confirmation session next Thursday, as it will ask about the ruler of the Federal Reserve Michel Bowman in its nomination to become the new Vice President of the Central Bank for Supervision. Bowman, who was exploited by President Donald Trump earlier this week, will take over the role that Michael Bar, who resigned in January.
According to the Fox News Eleanor Terrett correspondent, Bowman, a former Kansas state organizer and a warrior in community banking services, is expected to face questions about the treatment of the Federal Reserve for encryption, especially in issues such as Debanking and organizational transgression.
“Another important nomination session for banking and encryption industries is next Thursday. Many questions are expected from the Republican Party on Debanking, the Federal Reserve’s position on digital assets, and its treatment of the encryption industry” books Teret.
Trump Bowman supports the Council of Conservatives again
President Trump’s candidacy for Poman will become the second time that the banker enters the American federal reserve system, as he appointed it to this position during Trump 1.0.
On Monday, Trump Declare Nomination on its social media platform, which praises the Bowman experience and its record that can provide “change” in the Federal Reserve approach to banking organization.
Trump said, “Mickey is” knowledgeable “to accomplish it,” Trump said, “Trump said,”Our economy has been mastered over the past four years, and it is time to change.“
Poman will take over the highest supervisory role at a time when federal agencies are required to find a balanced organizational approach to the intersection between traditional financing and digital assets.
As a delegated bank of the former state of Kansas, she defended less arduous organizational frameworks for smaller banks and community financial institutions. Her predecessor, Michael Bar, left his position due to a cold political war with the Trump administration, as he called for strict organizational measures during the era of former President Joe Biden.
Powman voted against Barr’s proposal to raise capital requirements on financial institutions such as JPMorgan Chase and Goldman Sachs after the government faced pressure from American bank lobby groups. It also supported the efforts made to make Federal Reserve Stress tests are more transparent.
Stalcoin discussion preceded the banking committee session
Powman’s confirmation session will also be held against the background of a political debate on how to organize Stablecoins, an encoding linked to the value of the US dollar in a rate of 1: 1.
On Wednesday, the Financial Services Committee in the House of Representatives voted to pass the transparency and accountability law in Stablecoin for a better law for the Professor’s book (stable) during a full mark on the committee.
Each Eleanor Teret report has successfully stable law through the US House of Representatives FSC succeeded in voting 32-17 after a 13-hour session. According to what was reported, they joined six Democrats of their Republican colleagues in supporting the draft law.
🚨NEW: After a 13 -hour marathon mark, the stable verb was discharged from Financialcmte With a vote of 32-17 and six Democrats voting in favor. https://t.co/5znwlnh1da
Eleanorterrett April 3, 2025
“Digital assets already affect American families every day, and their role continues to grow. The stable law protects consumers with the consolidation of the US dollar as a backup currency in the world and the enhancement of the next generation of web3 companies here in the United StatesSteel said.
Both the House of Representatives and the Senate have now made legislation to create federal oversight on Stablecoins. The Parliament version is completely prohibited from providing Stablecoin exporters from providing interest, while the Senate, which is called the directive and creation of the national innovation of the 2025 Stablecoins Law (Genius Act), excludes interest in some types of stablecoins, although it does not stop the direct ban.
Once the legislators reconcile the differences between the two projects, the final legislation will need to pass the two congressional rooms before landing on President Trump’s office.
Earlier this year, the American Banking Association wrote a statement to American lawmakers to warn them of the provisions contained in the stable law that can motivate consumers to keep funds in Stablecoins instead of traditional banking deposits.
“This concept is not just a competitive concern; It poses a great danger to the primary role that banks play in credit mediation“The association is an account.
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