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Former Ripple Board Member Tapped to Lead Biden’s OCC: WSJ


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  • karlos changed the title to Former Ripple Board Member Tapped to Lead Biden’s OCC: WSJ

Former Ripple Board Member Tapped to Lead Biden’s OCC

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Michael S. Barr, a former U.S. Treasury Department official and onetime member of Ripple’s board of directors, is likely to become the next Comptroller of the Currency, the Wall Street Journal reported Wednesday.

If named and confirmed by the U.S. Senate, Barr will succeed Brian Brooks, the former Coinbase executive who served as Acting Comptroller for the last half of 2020. Barr is currently a dean at the University of Michigan Ford School of Public Policy. The news comes days after Politico first reported that Barr was under consideration, alongside law professor Mehrsa Baradaran.

Brian Brooks did a great job in issuing the Fair Access Rule to allow banks to use stablecoins for payments. Unfortunately this has not come into effect and is now frozen by Biden along with all the other pending Trump-era rules.

Hopefully Barr will have a similarly positive disposition towards crypto.

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