• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Michael Barr's Resignation as Fed Vice-Chair: Impact on Crypto Banking

user avatar

by Giorgi Kostiuk

4 months ago


Michael Barr, a notable figure in banking and crypto, has resigned from his position as Fed Vice-Chair, stirring debate over his role in digital asset regulation.

A Polarizing Figure in Banking and Crypto

On January 6, the Fed announced Barr's resignation. Since July 2022, Barr served as Vice Chair for Supervision, a role established after the 2008 Global Financial Crisis. During his tenure, he sought to expand the Federal Reserve's regulatory authority over digital assets, causing unease in the crypto industry.

Allegations of Overreach

In November 2024, Barr was criticized by Congressman Zach Nunn for his anti-crypto stance. Wyoming Senator Cynthia Lummis stated that Barr "illegally increased his power" at the cost of Wyoming’s digital asset industry.

"You’ve all engaged in an anti-crypto crusade during your time here. You have helped make the United States a second-tier place for digital assets."Zach Nunn

Implications for the Crypto Industry

Barr's resignation follows other anti-crypto officials stepping down after Donald Trump’s election victory. Barr cited the risk of a dispute with the incoming administration as part of his reason for leaving.

Michael Barr's departure marks a significant turning point in the relationship between the Fed and the crypto industry, sparking expectations for shifts in digital asset regulation.

0

Share

Other news

Senator Lummis Criticizes Withdrawal of Fed's Crypto Guidance

Senator Lummis expressed dissatisfaction with the Fed's withdrawal of crypto guidance, highlighting issues for banks in this area.

user avatarGiorgi Kostiuk

5 minutes ago

Why MAGACOINFINANCE is Gaining Interest in the Crypto Community

MAGACOINFINANCE draws interest from traders as Bitcoin and Ripple regain their positions.

user avatarGiorgi Kostiuk

8 minutes ago

Seraph in the Darkness Launches Season 3 with $SERAPH Token on Steam

Season 3 of Seraph in the Darkness introduces the $SERAPH token, enhancing the game's economy and player rewards.

user avatarGiorgi Kostiuk

8 minutes ago

U.S. Financial Stability Risks: Fed Report Highlights Trade Tensions and Policy Issues

The Fed's report outlines main risks to financial stability, including trade tensions and policy uncertainties in the U.S.

user avatarGiorgi Kostiuk

9 minutes ago

Haven1: From Success to Drop – Token $H1 Situation Analysis

The launch of Haven1 led to a token price drop. Analysis of causes and future predictions.

user avatarGiorgi Kostiuk

26 minutes ago

BTC Bull Token and Solaxy - A Press Release on Promising Projects

BTC Bull Token and Solaxy stand out in the presale market, showcasing significant potential through innovative ideas and investor support.

user avatarGiorgi Kostiuk

29 minutes ago

dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.