In an official statement made by the Central Bank today, it was stated that Barr will continue to serve as a member of the Federal Reserve Board of Governors.
In his resignation letter to President Joe Biden, Barr described his time as vice president as “an honor and a privilege” but expressed concerns about potential conflicts over the role.
“I have decided that in the current environment, I will be more effective serving the American people as president,” Barr said.
Widely seen as an ally of Senator Elizabeth Warren, Barr has become a leading figure on financial regulation. His cautious stance on cryptocurrencies has drawn criticism from the industry, with many citing his influence as a key reason why banks are hesitant to engage with or provide custody of digital assets.
His departure from the vice chair position could signal a change in the Fed’s approach to crypto regulation, depending on the views of his successor.
Source:bitcoinsistemi.com
