Uncertainty over digital assets traps institutions in ‘supervisory void’ — Fed Governor

During a speech at the Salzburg Global Seminar on bank regulation and supervision, Bowman called for attention from global regulators to the current supervision of novel banking activities, in particular banking as a service and digital assets. According to Bowman, financial institutions have been left in a “supervisory void” in terms of emerging technologies. “While there have been some efforts to provide guidance, there remains substantial uncertainty about the permissibility of and supervisory expectations for these activities . This leaves banks in the perilous position of relying on general but non-binding statements by policymakers only to be criticized at some