Odaily Planet Daily News Jaret Seiberg of TD Cowen Washington Research Group said that the resignation of Barr, the vice chairman of supervision of the Federal Reserve, "is not as much of a victory for big banks as it seems on the surface." Seiberg said in a report on Monday: "The Democrats will retain their majority seats on the Federal Reserve until early 2026, and given the need to confirm new regulators, it is difficult for us to see much progress in deregulation this year." Barr has called for regulation of stablecoins over the past year and said that stablecoins "borrow the trust of the central bank." "... The Federal Reserve is very keen to ensure that any stablecoin issuance operates within the appropriate federal prudential regulatory framework so that they do not threaten financial stability or the integrity of the payment system," Barr said at a conference in Washington, D.C. in October 2023. For many years, lawmakers have been drafting bills to regulate stablecoins, but the crux is how to allocate regulatory power to state and federal. (The Block) Yesterday, Fed Chairman Barr announced that he would resign as Vice Chairman of Supervision on February 28, 2025. The Fed stated that Barr would continue to serve as a member of the Fed Board, but did not intend to participate in major rule-making work until the successor to the vice chairman position was determined. Fed Chairman Barr said in the statement that the risk of "controversy" about his position could distract the Fed's attention.