$BTC

Bitcoin price started the week by claiming its $100K mark and closed above $102,000 on Monday following the Federal Reserve (Fed) Board announcement that Michael S. Barr will step down from his position as Fed Vice Chair for Supervision. This announcement positively impacted the overall crypto market as Barr is known for his stringent regulatory approach towards banks engaging with and custodying cryptocurrencies. His departure is expected to ease concerns over potential harsh regulatory changes during President Biden’s final days in office.

“Barr’s resignation will officially be effective on February 28 or earlier as a successor is confirmed but will continue to serve as a member of the Federal Reserve Board of Governors,” says the Fed’s press release post