U.S. President Biden nominates Martin Gruenberg as FDIC Chairman

ChainCatcher news, according to The Block, U.S. President Biden has nominated the current acting chair of the Federal Deposit Insurance Corporation (FDIC), Martin Gruenberg, to be the head of the banking regulatory agency.

It is reported that Martin Gruenberg has been serving as the acting chair of the FDIC since February of this year, and during his tenure, he has taken measures to prevent crypto companies from misrepresenting their users' assets as being backed by FDIC bank account insurance. Additionally, he has called for more restrictions on the issuance of stablecoins and suggested limiting stablecoins to licensed blockchains. (The Block)