Fed Vice Chair for Financial Supervision Bowman recently made a striking point at a crypto assets conference in Wyoming. She suggested allowing Central Bank employees to hold a small amount of crypto assets, believing that this firsthand experience could promote effective oversight of the related markets.

Baumann emphasized that moderately relaxing restrictions on employee investments not only helps attract and retain professional bank reviewers but also allows employees to gain a deeper understanding of these emerging financial products through hands-on experience. She vividly likened it to skiing: 'Just like skiing, you can't really master the skills merely by reading books and articles.'

Although Bowman did not specify the number or type of crypto assets that are allowed to be held, her remarks reflect the current regulatory agencies' increasingly open attitude towards the crypto assets field. In recent years, banks and regulatory agencies such as the Fed have taken several measures to lower the barriers for banks to participate in crypto business.

In her speech at the conference, Bowman repeatedly urged banking regulators to reduce their doubts about financial technology innovations, including Crypto Assets products. She criticized the 'overly cautious' mindset of some regulators, believing that this could hinder the development of the banking industry due to excessive restrictions.

Baumann emphasized that regulators face a critical choice: either embrace change and build a regulatory framework that is both safe and efficient, or remain stagnant and allow new technologies to bypass the traditional banking system. This perspective highlights the challenges and opportunities that regulators face when confronted with financial innovation.