BitRss.com latest World Crypto News

Search and discover the latest Cryptocurrency updated Stories in Categories

24-7 World Cryptocurrency News about Blockchain, Technology and much more, only from Top Leading Sources

Former Ripple Advisor Tapped To Become Top US Banking Regulator: Report

Former Ripple Advisor Tapped To Become Top US Banking Regulator: Report
President Biden is reportedly preparing to nominate a former member of Ripple’s advisory board, Michael Barr, as the Comptroller of the Currency.
The Wall Street Journal reports that if Barr is nominated and confirmed, he will succeed Brian Brooks, who stepped down January 14th, and temporary acting Comptroller of the Currency, Blake Paulson.

The Comptroller of the Currency is the senior official at the Office of the Comptroller of the Currency (OCC) and their duties include overseeing 1,200 national banks, federal savings associations, and federal branches and agencies of foreign banks that collectively perform 70% of all banking business in the US.
Barr’s possible nomination comes a month after the U.S. Securities and Exchange Commission (SEC) announced it is suing Ripple for the sale of  an unregistered security in the form of XRP. The prospective Comptroller of the Currency nominee joined Ripple Labs’ advisory board in July 2015. He left in 2017.
At the time of joining Ripple Labs as an advisor, Barr said the global payments system is “badly outdated.” He argued that “innovation in payments can help make the financial system safer, reduce cost, and improve access and efficiency for consumers and businesses alike.”
The Wall Street Journal adds that the University of California’s Irvine School of Law professor, Mehrsa Baradaran, was also considered for the position by the Biden administration.
In a U.S. Senate Committee on Banking, Housing and Community Affairs hearing in July 2019, Baradaran said cryptocurrencies are not the “best solution” for the shortcomings of the traditional financial industry.
“While I share many of the cryptocurrency industry’s concerns with respect to failures of the banking industry, I do not believe cryptocurrency is the best solution to the problems of financial inclusion and equity in banking.”
Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter , Facebook and Telegram


Check Latest News Headlines

.dh_responsive {
padding: 0px 20px 0px 20px;
}
@media (max-width: 980px) {
.dh_responsive {
padding: 0px;
}
}




googletag.cmd.push(function() { googletag.display('div-gpt-ad-1597129173244-0'); });


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.


Featured Image: Shutterstock/ArtStudio29
The post Former Ripple Advisor Tapped To Become Top US Banking Regulator: Report appeared first on The Daily Hodl .

BitRss.com shares this Contents always with License.

Thank you for Share!

   
Tumblr
LinkedIn
Reddit
VK

WhatsApp
Telegram

Cool to know huh? Read the full Article

Cool huh? Please read the full Article: Former Ripple Advisor Tapped To Become Top US Banking Regulator: Report


Search about Crypto News


BITRSS | CRYPTOCURRENCY WORLD NEWS

The latest Top News, only from Leading exponents of BlockChain, Bitcoin and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News; for this reason we have designed BitRss.com simple and intuitive, usable by all Devices, fast and effective.


| LEARN MORE ABOUT |

Today Most Popular News