How much higher will cryptocurrency prices go this year will largely depend on the four influential individuals in charge of the U.S monetary and banking policies. We believe the future bodes well for the cryptocurrencies market as leaderships are equipped with the domain knowledge to steer economic policies without fear of the unknown.
The U.S. Treasury Secretary – Janet Yellen
Yellen, born in 1946, served as the chair of the Federal Reserve from 2014 to 2018. At present, Janet Yellen will soon be confirmed as the United States Treasury secretary.
In her most recent comment regarding her stance on crypto, Yellen presented a positive vibe towards regulating crypto while still permitting its use for legitimate reasons.
[ Read more: New U.S Treasury Secretary, Janet Yellen, Remarked Positively On Crypto ]
The U.S. SEC Chairman – Gary Gensler
Gensler profile needs no introducing to the crypto community. Being a professor at MIT Sloan university, he is well known for his expertise on blockchain technology in the field of fintech. The SEC wields huge influence over crypto regulations and governance.
It is afterall the corporate “cop” overseeing and ensuring a healthy and legitimate financial system. With his knowledge on blockchain and cryptocurrencies, Gensler is poised to ensure regulations are meted (to weed out crypto crimes) while not stifling the various technological advancements that come with cryptocurrencies.
[ Read more: The New Face of SEC – Gary Gensler ]
Nominee for the U.S. OCC Chairman – Michael Barr
Michael Barr has been nominated by President Biden to be the next chairman of the Office of the Comptroller of Currency (OCC). The OCC sits as an independent bureau within the Treasury that regulates all chartered banks in the U.S.
Barr’s involvement in the fintech space needs no introduction. He served on the board of LendingClub as well as on the Gates Foundation Fintech Advisory Council. Most notable is his previous connection to Ripple. All these point to the fact that Barr is a pretty forward looking individual who does not shy away from new technologies.
Nominee for the U.S. CFTC Chairman – Chris Brummer
Brummer is an active advocate of fintech, who himself runs the annual D.C. Fintech Week conference. Mr Brummer has been instrumental in sharing to the CFTC committee on cryptocurrencies and central bank digital currencies.
Perhaps, a true litmus test of the various appointees’ stance on crypto will the approval of a Bitcoin ETF.
