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Democratic senators oppose President Biden's OCC Omarova nomination

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CoinTelegraph

Sat, Nov 27, 2021

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A group of five Democratic senators has reportedly rejected President Joe Biden’s nominee, Saule Omarova, to head the Office of the Comptroller of the Currency (OCC).

Omarova’s nomination as a bank regulator was initially opposed by three members of the Senate Banking Committee — Senators Jon Tester, Mark Warner, and Kyrsten Sinema — on a phone call with panel chairman Sen. Sherrod Brown, as reported by Axios.

Senators questioned Omarova regarding her nomination on Nov. 18, including Senator John Ossoff of Georgia, who had specific questions for Omarova about cryptocurrency.

Either the Biden administration persuades the democratic senators who object to Omarova’s nomination to change their minds, or the administration picks a new nominee for senate confirmation.

Turning up the regulatory heat, Sherrod Brown, the chair of the Senate Committee on Banking, Housing and Urban Affairs, issued notices that require crypto firms to release information related to consumer and investor protection on stablecoins.

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