BY DAYO ADESULU
In the next few days, the world will be experiencing another wave of a spike in the price of Bitcoin as President Joe Biden is set to appoint the ex-Ripple’s Board of Advisors, Micheal Barr the next U.S Banking Regulator.
With Barr wealth of experience in cryptocurrency, he is expected to lead the Office of Currency Comptroller (OCC.) in the next four years of Biden administration.
Wall Street Journal who disclosed this said that Barr’s appointment will be at the expense of Mehrsa Baradaran, a law professor.
However, Barr, who is currently the Dean of public policy at the University of Michigan, was unavailable to confirm the reports at the time of publishing this story.
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Reports had it that during Barr’s previous stint with the U.S. Treasury Department, he reportedly helped to craft “the 2010 Dodd-Frank Act, a sweeping overhaul of financial regulation that followed the 2008-09 financial crisis.”
Barr, as the country’s next top banking regulator, marks the second time the Biden administration has selected an individual with some crypto background to lead a regulating agency.
At the time of publishing this story, one Bitcoin price that hit $42,000 a week ago is now $31,486.80.