[Federal Reserve's Bowman: Ensuring the banking system can effectively support digital asset activities and encouraging innovation responsibly] According to a post by The Block reporter Sarah Wynn, the U.S. Senate Banking Committee's hearing on banking regulators has just begun. Federal Reserve Vice Chair for Supervision, Michelle Bowman, stated in her prepared testimony that the central bank is working on implementing the stablecoin bill GENIUS and plans to 'provide clarity on how digital assets are handled to ensure the banking system can effectively support digital asset activities.' Bowman said, 'As a regulator, my responsibility is to encourage innovation in a responsible manner. We must continuously enhance our ability to oversee the risks that innovation may pose to safety and soundness.'