Fed Governor Michelle Bowman just dropped some interesting updates on where stablecoin regulation is headed. Regulators are apparently pushing forward with fresh rules under the GENIUS Act—think capital requirements and diversification mandates for issuers. Nothing too shocking there, but what caught my attention is her emphasis on leveling the playing field.

Bowman's making it clear: digital asset oversight needs better clarity, and traditional banks shouldn't be left behind in this race. She's basically saying banks need fair rules to compete with crypto-native players. Whether that means we're finally getting sensible frameworks or just more regulatory theater remains to be seen. Either way, stablecoin issuers better start prepping their compliance teams.