Barr was seen as part of a trio of crypto-friendly financial regulators nominated or under consideration by the administration of President Joe Biden. Former MIT digital asset and blockchain professor Gary Gensler is in the process of being confirmed as chairman of the Securities and Exchange Commission (SEC), while DC Fintech Week conference head Chris Brummer is said the be the choice to lead the Commodity Futures Trading Commission (CFTC).
Ripple advisor Michael Barr to be named Comptroller of the Currency: Report
The former member of the international payments firm’s advisory board could become the nation’s second ‘fintech comptroller’
That would mean that the Biden Administration’s Comptroller of the Currency would have an affiliation with Ripple, a company being sued by the U.S. Securities and Exchange Commission for illegally selling an unregistered security—XRP—for a period of more than seven years.
Crypto-friendly Brian Brooks steps down as bank overseer
The former Coinbase executive’s rulings at the Office of the Comptroller of the Currency aided the cryptocurrency industry by allowing banks to custody and make payments with stablecoins
During his eight months at the head of the Office of the Comptroller of the Currency, Brooks, a former general counsel at Coinbase, enacted a number of reforms that helped push the cryptocurrency industry farther into the banking industry’s mainstream, most recently authorizing banks to use stablecoins to make payments and for other transactions on behalf of customers.
Anchorage wins crypto’s first national bank charter
The cryptocurrency custodian says its federal bank status will provide Wall Street and institutional investors an extra level of comfort in jumping into digital
The conditional approval of Anchorage’s national trust charter application “makes Anchorage Digital Bank National Association the first federally chartered digital asset bank in history,” said Anchorage CEO Nathan McCauley and President Diogo Mónica. “This is a major milestone, not only for us as an organization, but also for the crypto industry and the wider financial world. Crypto deserves a bank," they said.