Svmuu News: Sarah Wynn, a reporter for The Block, posted on X that Federal Reserve, testified before the U.S. Senate Committee on Banking, Housing, and Urban Affairs. According to reports, Federal Reserve is moving forward with the GENIUS project and plans to “clarify how digital assets are treated and ensure the banking system has the capacity to support digital asset-related activities”. Bowman emphasized: “As a regulator, my duty is to encourage innovation in a responsible manner while continuously enhancing our supervisory capabilities to address the safety and soundness risks that innovation may pose.”