Could former Coinbase Exec Advisor be replaced with former Ripple Advisor at WNO

Could Former Coinbase Exec Advisor Replace With Former Ripple Advisor At WNO 101
Source: Adobe / mar1koff

Joe Biden’s new American President’s team could include a regulator with a taste for crypto. Despite the darkness cast over the crypto world by the United States Treasury recent comments by secretary nominee Janet Yellen regarding her crypto “concerns,” link ex Ripple adviser to the position of Currency Manager – the leading banking regulator in the USA.

Yellen’s comments have been widely blamed for a slide in the prices of bitcoin (BTC) and altcoin.

But according to a report from the Wall Street Journal, Biden has replaced Michael Barr – ex Coinbase execution – who has left his post as acting head of the Office of the Currency Manager (WNO) after only eight months at the helm.

The OCC is an independent agency belonging to the Treasury Department, which will come under the control of Biden’s nominee, Yellen, pending a vote in Parliament this week.

A media outlet said “people familiar with the situation” had been kept informed of the development, although Barr, the Biden team and the Treasury declined or failed to comment on the report.

Barr joined Ripple’s advisory board in mid-2015, though he’s no longer listed as an advisor to the company – with no indication at the time of writing when he left his position at developer XRP. He is currently dean in the University of Michigan, but has previously served in the Treasury under former presidents Barack Obama and Bill Clinton. He has also worked at JPMorgan among others.

Under Brooks, the OCC has illuminated a number of crypto-friendly movements, including granting national trust charter status Visa-ed-back crypto company Anchor earlier this month – as well as moves to allow banks to offer crypto custody services.
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