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Home Crypto News Market Texas Senator, Ted Cruz Strongly Opposes Biden's Anti-Crypto Pick, Saule Omarova For...

Texas Senator, Ted Cruz Strongly Opposes Biden’s Anti-Crypto Pick, Saule Omarova For The Office Of The Comptroller Of The Currency (OCC)

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Texas Senator, Ted Cruz, recently revealed to be an ally of the cryptocurrency industry, and is opposing the nomination of Saule Omarova, a law professor at Cornell University who was reportedly chosen by President Joe Biden to lead Office of the Comptroller of the Currency.

Read: Biden Plans To Nominate A Major Critic Of Cryptocurrencies As A Top Wall Street Regulator



In a scathing tweet, Cruz claims that Omarova is ready to regulate the cryptocurrency industry, “into oblivion”:

He said:

“Not only is Saule Omarova, Biden’s pick to lead the OCC, a threat to our traditional economy, she also wants to regulate crypto into oblivion.

Crypto faces future-defining government regulations. This nomination needs to be stopped.”

 

 

Omarova was skeptical of the idea that crypto would democratize finance, claiming that the rise of the industry was a sign of a “dysfunctional” financial system.

In the Trump administration, the OCC was headed by crypto-friendly Brian Brooks, who took the job after serving as Coinbase legal officer. Brooks also had a brief stint as CEO of Binance.US.

Omarova is best known as a staunch opponent of the big banks. In one of her recent tweets, she specifically targeted JPMorgan.




 

Ironically, the cryptocurrency lobby will fight on the side of the big banks to stop Omarova’s nomination.

The fate of the controversial nomination depends on whether or not moderate Democrats are going to side with her sweeping regulatory agenda.

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Ammarahttps://thecryptobasic.com/
Ammara Mubin is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Ammara authored more than 1,000 stories for TheCryptoBasic, CryptoComes and other fintech media outlets. She is particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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