Reports say that the Biden administration plans to nominate anti-crypto and anti-big bank law professor, Saule Omarova, to head the OCC. In detail, the Office of the Comptroller of the Currency is the institution that manages the U.S. banking sector. It oversees the nation’s biggest lenders like Bank of America Corp (NYSE:BAC)., Citigroup Inc (NYSE:C)., and JPMorgan (NYSE:JPM).
According to sources, President Joe Biden will tap Saule Omarova to run as the head of OCC. As the reports indicate, Omarova already criticized cryptocurrencies and the legacy banking sector before.
In addition to this, Omarova also told the government that it has to have a much bigger role in banking. She even said she “wants to end banking as we know it”. She further ci…
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Source: Cryptocurrency - investing.com
