Resistance is mounting to U.S. President Joe Biden’s pronounced plans to faucet a staunch banking and crypto critic to run the Office of the Comptroller of the Currency (OCC).

The proposed nomination of regulation professor, Saule Omarova, to move the federal financial institution regulatory employer has raised eyebrows in political and monetary circles as she is broadly visible as anti crypto and anti massive banks.

Texas Republican Senator Ted Cruz has emerge as the today’s crypto best friend to talk out, claiming that her decisions, if nominated, may want to extrade the destiny of the enterprise in a tweet on Sept. 28.

A wide variety of massive banks and banking institutions also are in opposition to the nomination with the American Bankers Association debating whether or not to publicly combat the decision. ABA President and CEO Rob Nichols stated “we’ve extreme issues approximately her thoughts for essentially restructuring the nation’s banking machine,” in a announcement on Sept. 24.

Ranking Republican at the Senate Banking Committee, Pat Toomey, additionally spoke out in competition of the nomination remaining week pointing out that he has “extreme reservations” given her “severe leftist thoughts.”

President and CEO of the Independent Community Bankers of America, Rebeca Rainey, stated that Omarova “might displace locally-primarily based totally network banking and limition monetary increase in nearby communities,” consistent with reports.

The OCC oversees America’s banking giants which includes Goldman Sachs, JPMorgan, and Citi Group and might additionally embody elements of the crypto enterprise.

Omarova, who has formerly stated she desired to “quit banking as we recognize it,” is predicted to implement stricter rules. She has additionally claimed that the upward push of cryptocurrencies is “reaping benefits specifically the dysfunctional monetary machine we already have.”

She stocks perspectives with anti-crypto lawmakers which includes Senator Elizabeth Warren in that virtual property threaten to destabilize the economy, consistent with Bloomberg. For her part, Warren said that the nomination was “brilliant news,” and regarded ahead to heavier regulations.

Related: New OCC head requests overview of cryptocurrency rules

The OCC has morphed from one of the Treasury’s maximum crypto-ahead organizations into one that modified route beneathneath next leadership. Former head of Coinbase’s prison team, Brian Brooks, joined the OCC in March 2020 and paved the manner for rules permitting banks to custody crypto.

In January, the banking regulator advised countrywide banks that they might run unbiased nodes for dispensed ledger networks which includes stablecoins. However, then the tone changed. On Sept. 21 appearing head of the OCC, Michael Hsu, warned that decentralized finance merchandise are just like people who catalyzed the worldwide monetary disaster in 2008.