Michael Barr, the Federal Reserve's Vice Chair for Supervision, is set to resign by February 28 or sooner if a successor is named. His departure is linked to "Operation Chokepoint 2.0," a rumored federal effort to limit crypto firms' access to banking services. Barr, viewed by some as a barrier to crypto-friendly banking, has been criticized by industry figures like Senator Cynthia Lummis and Custodia Bank CEO Caitlin Long. Despite his resignation, Barr will remain on the Federal Reserve Board. His exit is seen as a positive shift by some in the crypto community.