Fomer Ripple’s board of directors Michael Barr will replace Brian Brooks as Comptroller of the Currency

Michael Barr, professor at the University of Michigan Law School and onetime member of Ripple’s board of directors is likely to become the next Comptroller of the Currency, according to Wall Street Journal.

Michael Barr

Barr, a former administration Treasury official under the Barack Obama administration will succeed Brian Brooks, the former Coinbase executive who served as Acting Comptroller for the last half of 2020.

Under Brooks, he pushed a number of contentious rules, including a proposal that means banks would be unable to refuse business with clients based on the sector they operated in.

Barr and Brooks are the crypto-friendly to lead the federal banking regulator.

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