Federal Reserve Board Member: The Federal Reserve's views on AI and cryptocurrency are 'about to change' BlockBeats News: On August 20th, Federal Reserve Governor Bauman stated that banks and regulatory agencies must accept the benefits of new technologies such as artificial intelligence and cryptocurrency, otherwise their role in the economy may be weakened. She said in her speech, 'Change is coming soon.' Ideally, regulatory agencies would allow new uses to 'surge in a way that benefits the banking system.'. If this is not our approach, then we may face the risk of a decrease in the correlation between the banking system and consumers, businesses, and the overall economy Bauman calls on the industry to help regulators better understand the potential of blockchain and digital assets, as well as new technologies to address issues such as fraud. She also stated that she will seek to reduce regulatory scrutiny related to reputation risk, implying that new rules may be established. (Golden Ten)