Fed Bowman: Banks Dey Embrace Digital Assets & Tokenization

Federal Reserve Vice Chair Michelle Bowman don dey urge regulators make dem update regulatory framework so e fit include digital assets, blockchain and AI for banking. She warn say too much caution and unclear standards dey cause friction and dey make banks dey left behind as consumers dey shift to faster, cheaper digital assets. Bowman recommend say make examiners get small exposure to emerging platforms to build expertise. She highlight tokenization as a powerful tool to reduce costs, make ownership transfers easy and expand market access. Even though she recognize the risks, she emphasize say balanced policies fit handle the risks and unlock benefits. Bowman speech show say make banks adopt digital assets and tokenization na the way forward.