Mainstream DeFi is ‘inevitable’: US currency comptroller
The U.S acting comptroller of the currency believes the role banks play in society will soon be transformed by crypto assets and DeFi. The U.S acting comptroller of the currency, Brian Brooks, predicts th decentralized finance (DeFi) will render many of the financial services offered by banks obsolete, just as email disrupted the postal service.In an interview during DC Fintech Week on Oct. 19, Brooks predicted a not-too-distant future in which distributed ledger technologies (DLT) mediate financial services, making the legacy banking sector’s historic role as “central ledger-keeper”....
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Acting Comptroller of the Currency Brian P. Brooks is officially stepping down after eight months at the OCC. The head of the U.S. Office of the Comptroller of the Currency (OCC) Brian P. Brooks has officially announced that he is stepping down on January 14, 2021.In a statement dated January 13, the organization said that Chief Operating Officer Blake Paulson will become Acting Comptroller of the Currency, replacing Brooks who has served for eight months.Brian P. Brooks to Step Down, Blake Paulson to Become Acting Comptroller of the Currency on January 14, 2021....
Comptroller of the Currency Thomas J. Curry, who heads an independent department in charge of supervising all U.S. national banks, stated in a speech April 7 at the American Banker Retail Banking Conference that “it’s important that regulators are open to the changes that are underway in both technology and business practices,” according to prepared remarks shared with Bitcoin Magazine. The comptroller signalled a shift in attitudes toward fintech regulations, an umbrella term used to describe companies or services that use a combination of finance and technology, with Bitcoin being the....
Former top U.S. banking regulator Brian Brooks is joining the U.S. affiliate of the world’s largest cryptocurrency exchange as its new CEO. Brian Brooks, the former acting comptroller of the currency of the United States Office of the Comptroller of the Currency, is set to become the new CEO of major cryptocurrency exchange Binance.US.According to a Tuesday announcement, Brooks will replace current Binance.US CEO Catherine Coley effective May 1, 2021. Formerly the head of Coinbase’s legal team, Brooks has emerged as a prominent figure in the crypto industry due to his continued efforts to....
President Joe Biden looks set to appoint another former crypto executive to head up the Office of the Comptroller of the Currency. According to the Wall Street Journal, a former member of Ripple’s board of advisors directors is likely to become the next Comptroller of the Currency.The report cites insiders “familiar with the matter” who expect President Biden to nominate former Treasury Department official, Michael Barr, to the top post overseeing national banks.The position as Comptroller of the Currency serves as the administrator of the federal banking system, and is the chief officer....
Micheal Barr, the former member of Ripple’s board of advisors, is set to become the United States’ next banking regulator, according to a report. A former assistant treasury secretary, Barr will become the second individual with crypto connections to lead the Office of Currency Comptroller (OCC.) The recently departed Currency Comptroller Brian Brooks is a former Coinbase executive. Biden Taps Comptroller With Crypto Ties According to a Wall Street Journal report, which cites anonymous sources, Barr’s likely appointment will be at the expense of Mehrsa Baradaran, a law....