• 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

6 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

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

Other news

Bullish, the Crypto Exchange Backed by Peter Thiel, Prepares for IPO

chest

Bullish has filed for IPO, seeking to enter the public market and compete with major players.

user avatarGiorgi Kostiuk

USDC Use on Stellar and Its Impact on XLM Value

chest

Statistics show a rise in USDC transactions on Stellar, indicating growing utility that fuels speculation on XLM prices.

user avatarGiorgi Kostiuk

Litecoin Records New Open Interest at $761 Million. Is LTC Heading to $120?

chest

Litecoin has reached a new record open interest of $761 million, and 66.3% of addresses are in profit, raising hopes for a price increase to $120.

user avatarGiorgi Kostiuk

World Liberty Announces WLFI Token Launch Valued at $16 Billion

chest

WLFI token by World Liberty plans to debut with a $16 billion valuation, with significant backing from DT Marks DEFI LLC.

user avatarGiorgi Kostiuk

Impact of GENIUS Act: Trump Establishes Federal Stablecoin Guidelines

chest

President Trump has signed the GENIUS Act, establishing federal regulations for stablecoins and impacting the U.S. crypto landscape.

user avatarGiorgi Kostiuk

New Opportunities in the Meme Cryptocurrency Market: Troller Cat Gaining Popularity

chest

Exploring the rise of Troller Cat amid shifts in meme cryptocurrencies and the current status of Shiba Inu and Pepe.

user avatarGiorgi Kostiuk
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.