During the Obama administration, Barr served as assistant secretary of finance for the Treasury Department, according to a White House press release. In 2015, Barr joined Ripple as a consultant. Barr said at the time, “I’m excited to be a member of Ripple Labs’s Advisory Board. Our global payment system is very outdated. “I believe that payment innovation can help make the financial system safer, reduce costs and improve accessibility and efficiency for both consumers and businesses.” Biden says in the press release that he intends to work with the chairman of the Senate Banking Committee, Sheriff Brown, a Democrat from Ohio, to advance Barr’s candidacy “fast forward” to confirmation. Brown voiced support for Bar’s appointment in a statement. Ripple has clashed with US regulators in recent years. In late 2020, the Securities and Exchange Commission sued the San Francisco-based payment company, claiming it had sold XRP as an unregistered security. The regulator also filed individual charges against Ripple CEO Brad Garlinghaus and co-founder Chris Larsen. The case is still ongoing. Check Price Action Don’t Miss a Step – Sign Up to Receive Encrypted Email Notifications Delivered Directly to Your Inbox Follow us on Twitter, Facebook and Telegram Surf The Daily Hodl Mix Check out the latest news Headlines Disclaimer expressed in The Daily Hodl is not an investment tip. Investors should exercise due diligence before making high-risk investments in Bitcoin, cryptocurrencies or digital assets. Keep in mind that your transfers and transactions are at your own risk and that any losses are your own responsibility. The Daily Hodl does not recommend buying or selling any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Keep in mind that The Daily Hodl is involved in affiliate marketing. Selected image: Shutterstock / optimarc / Tun_Thanakorn
