Biden’s controversial anti-crypto auditor general nominee withdraws

After President Biden’s nominee, Saule Omarova, withdrew her candidacy from the confirmation process, the U.S. Office of the Comptroller of the Currency will be operated by only one acting controller for a long period of time.

In response to Omarova’s withdrawal, President Biden Said On December 7, “Saule suffered an improper personal attack that was far beyond normal.”

The Comptroller of Currency is responsible for overseeing the supervision of chartered banks nationwide.Cryptocurrency stakeholders consider Omarova to be a bad choice for the Auditor General because she Anti-encryption sentiment.

Omarova raised fierce questions from Republicans and some Democratic senators at the hearing regarding her views on the Banking, Housing and Urban Affairs Committee. Private banking and cryptocurrency regulation.

Some Republicans, such as Senator John F. Kennedy Focus Omarova’s growth experience in the Soviet Union.

In the Senate hearing on November 18, Republican Senator Cynthia Lummis (Cynthia Lummis) be doubted Omarova on her position on cryptocurrencies and stablecoins. Omarova expressed concern that private technology companies that eventually deploy stablecoin infrastructure will put profit-based private interests above public demand for open banking.

When asked if she thinks the government-issued legal tender is better than private business, Omarova replied:

“I worry about allowing private innovation to undermine many important public policies that we need to pursue.”

Omarova studied at Moscow State University in Moscow, Russia with Lenin’s Personal Academic Scholarship, where she reportedly wrote an article Thesis on Karl MarxThe paper appeared in Omarova’s resume in April 2017. Republican Senator Pat Toomey was told that the paper had been deleted and therefore could not be produced.

related: Sand line: U.S. Congress is bringing partisan politics to cryptocurrency

Republican Senator Mike Crapo challenged Omarova to explain her position on the Federal Chartered Bank because they are related to climate change. She argues that the banking system is capable of shutting down industries that contribute to climate change (which she calls “social sub-optimal industries”) by preventing them from obtaining bank loans.

Her position state, “The way we get rid of these carbon financiers is to make them lack funding sources.”

In view of Omarova’s withdrawal, President Biden will have to nominate another candidate for Comptroller.