The Office of the Comptroller of the US Currency will function with only one acting Comptroller for a period of time after President Biden’s candidate, Saule Omarova, withdrew her candidacy from the confirmation process.
In response to Omarova’s withdrawal, President Biden said on December 7: “Saule was subjected to inappropriate personal attacks that were well over the line.”
The Comptroller of the Currency oversees the regulation of incorporated banks throughout the country. Cryptocurrency stakeholders viewed Omarova as a poor choice for the Comptroller’s Office due to her anti-crypto sentiments.
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