Michael Barr, who has been influential in shaping banking and crypto regulations, has announced his resignation as the Federal Reserve’s Vice Chair for Supervision. He plans to step down by February 28 unless a successor is confirmed earlier. Barr expressed concerns over possible disagreements with the incoming Trump administration.
Despite resigning from his current role, Barr will keep his position as a Fed governor. His exit could impact future regulatory directions for banking and cryptocurrencies, given his notable contributions in these areas.
