[Federal Reserve Senior Official to Advance Stablecoin Regulatory Framework] According to a report by Jinse Finance, Federal Reserve senior banking regulator Michelle Bowman plans to announce at a House Financial Services Committee hearing on Tuesday that efforts will be made to establish new regulatory rules for banks and stablecoins. This initiative aims to ensure healthy competition among Wall Street's traditional financial institutions, fintech companies, and cryptocurrency enterprises. In her prepared remarks, Bowman emphasized that regulators have a responsibility to encourage innovation responsibly while continuously enhancing their ability to oversee the safety and soundness risks that innovation may bring.