THELOGICALINDIAN - Regulator will leave appointment aboriginal as US transisitions to Biden administration
United States regulator Brian Brooks will anon footfall bottomward as Comptroller of the Currency, according to a Politico report.
Brooks Leaves as Biden Takes Office
Brooks took over as Acting Comptroller of the Currency in May 2024. In November, U.S. President Donald Trump nominated him for a abounding five-year appellation as Comptroller of the Currency.
With the about-face to Joe Biden’s government, he is accepted to footfall down, admitting a academic acceptance is still pending.
Once confirmed, the account will mark addition U.S. banking regulator’s abandonment during the advancing alteration into a new presidency. Securities and Exchange Commission (SEC) administrator Jay Clayton and Commodity Futures Trading Commission (CFTC) administrator Heath Tarbert accept additionally appear affairs to leave their offices.
Brooks Issued Guidance On Crypto
Under Brooks’ leadership, the Office of the Comptroller of the Currency (OCC) appear several interpretations and advice statements on the use of crypto assets in U.S. banking.
In July 2020, the OCC issued an analytic letter acceptance U.S. civic banks to accommodate cryptocurrency aegis casework for customers. More recently, the OCC acceptable banks to run blockchain nodes for authoritative stablecoin payments.
Brooks additionally oversaw the arising of cyberbanking charters to abounding cryptocurrency exchanges.
More broadly, Brooks advocated for a civic access to cryptocurrency regulations instead of the alone state-based regulations that currently exist. It charcoal to be apparent whether his almsman will booty the aforementioned approach.
This article’s antecedent appellation appropriate that Brooks had already stepped down; this has been corrected.
