Michael Barr Steps Down as Fed Vice Chair Amid Criticism on Crypto and Banking Oversight

The post Michael Barr Steps Down as Fed Vice Chair Amid Criticism on Crypto and Banking Oversight appeared first on Coinpedia Fintech News

In a latest development, the Federal Reserve Board announced on Monday that Michael S. Barr will step down as Vice Chair for Supervision of the Federal Reserve Board. However, he will remain a member of the Board of Governors.

The Fox Business Journalist, Eleanor Terett took to X and shared that Michael S. Barr was known for his close ties to Senator Elizabeth Warren and was seen as a key reason why banks have struggled to engage with and hold crypto assets.