• BTC Dominance: %
XBT.Market
Advertisement
  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us
No Result
View All Result
XBT.Market
No Result
View All Result
Home Bitcoin

US Senate confirms Michael Barr as Fed vice chair for supervision

Jon Hartney by Jon Hartney
July 13, 2022
in Bitcoin, Blockchain, Business, Market
0
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Michael Barr was on the advisory board of Ripple Labs from 2015 to 2017 and has called on lawmakers to create a regulatory framework on stablecoins to prevent the risk of runs.

The United States Senate has confirmed the nomination of law professor Michael Barr to become the next vice chair for supervision for the Federal Reserve.

In a 66-28 vote on the Senate floor on Wednesday, U.S. lawmakers confirmed Barr as vice chair for supervision of the Federal Reserve System for four years, filling the last seat on the seven-member board of governors. Barr, who was on the advisory board of Ripple Labs from 2015 to 2017, also served as the Treasury Department’s assistant secretary for financial institutions under former President Barack Obama, and taught courses on financial regulation at the University of Michigan.

Related articles

Bitcoin derivatives data shows room for BTC price to move higher this week

January 23, 2023

Bitcoin price consolidation opens the door for APE, MANA, AAVE and FIL to move higher

January 22, 2023

As vice chair for supervision, Barr will be responsible for developing policy recommendations for the Fed as well as overseeing the supervision and regulation of certain financial institutions, second only to chair Jerome Powell. According to the White House, he was “a key architect” of the 2010 Dodd-Frank Act — legislation that continues to influence financial policy in the United States, and set up the position of vice chair for supervision.

The #Senate confirmed Michael Barr to be Vice Chair for Supervision of the Board of Governors of @federalreserve, 66-28.
Next: Cloture vote on Owen Herrnstadt to be a Member of the Board of Directors of the @EximBankUS
Then recess until 5:30 with 2 further votes at that time.

— Senate Press Gallery (@SenatePress) July 13, 2022

During his confirmation hearing before the Senate Banking Committee in May, Barr said innovative technologies including cryptocurrencies had “some potential for upside in terms of economic benefit” but also “some significant risks.” He called on lawmakers to create a regulatory framework on stablecoins to prevent the risk of runs.

In a statement on his intention to nominate Barr in April, President Joe Biden said he wanted to push the candidate through quickly, likely because the position had been vacant since Fed governor Randal Quarles’ term ended in October 2021. The Senate confirmed Lael Brainard for a four-year term as Fed vice chair in April, and Powell as Fed chair in May. Barr is the last major candidate put forth by Biden for the Fed to be confirmed.

“Barr has strong support from across the political spectrum — and has been confirmed by the Senate on a bipartisan basis,” said Biden in April. “He understands that this job is not a partisan one, but one that plays a critical role in regulating our nation’s financial institutions to ensure Americans are treated fairly and to protect the stability of our economy.”

Biden’s first nominee for the Fed vice chair of supervision, Sarah Bloom Raskin, withdrew her name from consideration in March citing “relentless attacks by special interests” and referred to Republican lawmakers who “held hostage” her nomination since February. Wednesday’s Senate vote suggested that more than 15 Republicans joined Democrats in confirming Barr.

Related: How does the Fed impact crypto?

The Fed, in addition to the Securities and Exchange Commission and the Commodity Futures Trading Commission, oversees many of the regulations covering digital assets and financial institutions in the United States. Upon Barr taking his position, a full seven members will sit on the Fed’s board of governors — an event which has not happened in roughly ten years.

Read Entire Article
Tags: CointelegraphCryptocurrencyInvestmentMining Bitcoin
Share76Tweet47

Related Posts

Bitcoin derivatives data shows room for BTC price to move higher this week

by Jon Hartney
January 23, 2023
0

BTC options data suggest that the Bitcoin price rally still has legs, even with wider economic concerns growing and the

Bitcoin price consolidation opens the door for APE, MANA, AAVE and FIL to move higher

by Jon Hartney
January 22, 2023
0

BTC could take a break from its sharp rally and if BTC price bounces off underlying support, APE, MANA, AAVE...

Genesis bankruptcy case scheduled for first hearing

by Jon Hartney
January 22, 2023
0

The first hearing in Genesis Capital's bankruptcy case will be held on January 23, according to court filings

Terra lending protocol Mars to launch mainnet

by Jon Hartney
January 22, 2023
0

The Mars Hub will launch an independent Cosmos application chain and issue MARS to users who hold the token during...

Central African Republic eyes legal framework for crypto adoption

by Jon Hartney
January 22, 2023
0

A 15-member committee is tasked with working on a legal framework that will allow cryptocurrencies to operate in

Load More
  • Trending
  • Comments
  • Latest

Ethereum Classic gets ‘endorsement’ from Vitalik Buterin, but ETC price still risks 50% crash

July 27, 2022

Critique on Helium’s $6.5K monthly revenue causes a stir

July 28, 2022

All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

July 7, 2022

Cardano Vasil hard fork hit with another delay for several weeks

July 29, 2022

All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

0

Crypto owners banned from working on US Government crypto policies

0

Korean startup Uprise lost $20M shorting LUNC

0

Ethereum testnet Merge mostly successful — ‘Hiccups will not delay the Merge.’

0

Bitcoin derivatives data shows room for BTC price to move higher this week

January 23, 2023

Bitcoin price consolidation opens the door for APE, MANA, AAVE and FIL to move higher

January 22, 2023

Genesis bankruptcy case scheduled for first hearing

January 22, 2023

Terra lending protocol Mars to launch mainnet

January 22, 2023

XBT.Market

This website is an automated news feed powered by the Nebulome cloud system. The site is made possible by YYC TECH Consulting and Alberta Digital Mining Company. As a team with major crypto and bitcoin enthusiasm, we have curated major sources of news, trading and financial data to bring you, our viewer, an unbiased source of truth.

Recent Posts

  • Bitcoin derivatives data shows room for BTC price to move higher this week January 23, 2023
  • Bitcoin price consolidation opens the door for APE, MANA, AAVE and FIL to move higher January 22, 2023
  • Genesis bankruptcy case scheduled for first hearing January 22, 2023
  • Terra lending protocol Mars to launch mainnet January 22, 2023
  • Central African Republic eyes legal framework for crypto adoption January 22, 2023

News Categories

  • Bitcoin
  • Blockchain
  • Business
  • Market

Tags

bitcoinMagzine Cointelegraph Cryptocurrency insidebitcoins Investment Mining Bitcoin NewsBTC

Quicklinks

  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us

© 2022 Xbt.Market - Powered by YYC Tech Consulting & ADMCO.

No Result
View All Result
  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us

© 2022 Xbt.Market by Nebulome.

  • bitcoinBitcoin(BTC)$22,898.00-1.08%
  • ethereumEthereum(ETH)$1,634.38-0.72%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • tetherTether(USDT)$1.00-0.06%
  • binancecoinBNB(BNB)$327.810.21%
  • usd-coinUSD Coin(USDC)$1.000.03%
  • rippleXRP(XRP)$0.398360-1.12%
  • Binance USDBinance USD(BUSD)$1.000.48%
  • cardanoCardano(ADA)$0.3921100.15%
  • dogecoinDogecoin(DOGE)$0.092218-0.23%
  • OKBOKB(OKB)$44.354.28%
  • matic-networkPolygon(MATIC)$1.210.47%
  • SolanaSolana(SOL)$23.30-1.39%
  • Shiba InuShiba Inu(SHIB)$0.0000150.54%
  • Lido Staked EtherLido Staked Ether(STETH)$1,630.75-0.80%
  • polkadotPolkadot(DOT)$6.710.62%
  • litecoinLitecoin(LTC)$96.57-0.24%
  • AvalancheAvalanche(AVAX)$20.08-0.71%
  • tronTRON(TRX)$0.063525-1.14%
  • UniswapUniswap(UNI)$6.81-2.75%
  • daiDai(DAI)$1.000.74%
  • cosmosCosmos Hub(ATOM)$14.381.35%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$22,844.00-1.21%
  • chainlinkChainlink(LINK)$6.98-0.14%
  • ToncoinToncoin(TON)$2.27-2.47%
  • leo-tokenLEO Token(LEO)$3.531.36%
  • ethereum-classicEthereum Classic(ETC)$22.72-0.63%
  • moneroMonero(XMR)$166.58-1.53%
  • bitcoin-cashBitcoin Cash(BCH)$133.60-1.02%
  • Aerarium FiAerarium Fi(AERA)$7.14-13.09%
  • AptosAptos(APT)$15.03-3.03%
  • stellarStellar(XLM)$0.090960-0.52%
  • ApeCoinApeCoin(APE)$5.731.03%
  • CronosCronos(CRO)$0.081026-0.99%
  • QuantQuant(QNT)$139.840.40%
  • NEAR ProtocolNEAR Protocol(NEAR)$2.37-1.39%
  • filecoinFilecoin(FIL)$5.27-0.30%
  • algorandAlgorand(ALGO)$0.257924-0.37%
  • Lido DAOLido DAO(LDO)$2.155.66%
  • HederaHedera(HBAR)$0.069474-0.98%
  • vechainVeChain(VET)$0.0240000.03%
  • Internet ComputerInternet Computer(ICP)$5.56-1.72%
  • FantomFantom(FTM)$0.55-3.42%
  • decentralandDecentraland(MANA)$0.73-2.21%
  • The SandboxThe Sandbox(SAND)$0.72-1.45%
  • Axie InfinityAxie Infinity(AXS)$10.91-0.62%
  • AaveAave(AAVE)$86.211.10%
  • The GraphThe Graph(GRT)$0.13350117.12%
  • eosEOS(EOS)$1.08-0.66%
  • FlowFlow(FLOW)$1.110.44%
  • Terra Luna ClassicTerra Luna Classic(LUNC)$0.0001894.71%
  • MultiversXMultiversX(EGLD)$44.79-0.47%
  • theta-tokenTheta Network(THETA)$1.09-1.86%
  • tezosTezos(XTZ)$1.17-0.77%
  • FraxFrax(FRAX)$1.000.20%
  • true-usdTrueUSD(TUSD)$1.000.02%
  • huobi-tokenHuobi(HT)$5.570.09%
  • paxos-standardPax Dollar(USDP)$1.00-0.28%
  • bitcoin-cash-svBitcoin SV(BSV)$43.901.85%
  • kucoin-sharesKuCoin(KCS)$8.63-1.20%
  • Frax ShareFrax Share(FXS)$10.808.56%
  • havvenSynthetix Network(SNX)$2.55-2.95%
  • Curve DAOCurve DAO(CRV)$1.062.25%
  • Rocket PoolRocket Pool(RPL)$39.47-0.13%
  • ChilizChiliz(CHZ)$0.1402150.39%
  • PancakeSwapPancakeSwap(CAKE)$4.490.89%
  • USDDUSDD(USDD)$0.990.03%
  • ImmutableXImmutableX(IMX)$0.915.93%
  • eCasheCash(XEC)$0.0000370.71%
  • BitTorrentBitTorrent(BTT)$0.000001-2.24%
  • dashDash(DASH)$62.345.22%
  • iotaIOTA(MIOTA)$0.2454401.46%
  • Trust WalletTrust Wallet(TWT)$1.60-1.45%
  • BitDAOBitDAO(BIT)$0.57-0.30%
  • Mina ProtocolMina Protocol(MINA)$0.78-1.79%
  • KlaytnKlaytn(KLAY)$0.205782-1.38%
  • OptimismOptimism(OP)$2.954.02%
  • GateGate(GT)$4.30-4.23%
  • makerMaker(MKR)$691.400.63%
  • neoNEO(NEO)$8.710.80%
  • cUSDCcUSDC(CUSDC)$0.022716-0.07%
  • gemini-dollarGemini Dollar(GUSD)$1.00-0.30%
  • ArweaveArweave(AR)$11.430.72%
  • GMXGMX(GMX)$67.504.05%
  • OKCOKC(OKT)$31.670.53%
  • zcashZcash(ZEC)$43.98-1.10%
  • cDAIcDAI(CDAI)$0.0222001.44%
  • RenderRender(RNDR)$1.857.71%
  • RadixRadix(XRD)$0.053756-8.75%
  • THORChainTHORChain(RUNE)$1.811.07%
  • Tokenize XchangeTokenize Xchange(TKX)$6.68-1.40%
  • OsmosisOsmosis(OSMO)$1.01-0.80%
  • WhiteBIT TokenWhiteBIT Token(WBT)$4.10-0.39%
  • singularitynetSingularityNET(AGIX)$0.4315982.38%
  • PAX GoldPAX Gold(PAXG)$1,871.290.71%
  • enjincoinEnjin Coin(ENJ)$0.4701571.41%
  • loopringLoopring(LRC)$0.373102-0.97%
  • Convex FinanceConvex Finance(CVX)$6.220.23%
  • Baby Doge CoinBaby Doge Coin(BABYDOGE)$0.0000009.89%
  • cETHcETH(CETH)$32.810.17%