New Comptroller of the Currency announced: Will he be as good for crypto?
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....
Related News
The OCC said it will incorporate its six-year-old Office of Innovation into a new agency that will help it deepen its understanding of fintech and promote responsible innovation. The United States Office of the Comptroller of the Currency (OCC) announced Oct. 27 that it will create an Office of Financial Technology early next year. The new office will incorporate the Office of Innovation, which was set up in 2016. It will be led a by a chief financial technology officer, who will report to the senior deputy comptroller for bank supervision policy.The OCC describes itself as the U.S.’s....
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....
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....
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....
Firms could potentially become federally chartered banks allowed to provide crypto custody services by converting their business charters. Acting Comptroller of the Currency Brian Brooks — soon to be confirmed in the role full time — has revealed another way for U.S. crypto custody providers to receive a charter to operate as a federally-approved bank.In a Nov. 17 interview with Forbes, Brooks stated that there are currently three methods for payment companies to become a federally chartered bank. The first option is to apply for a non-depository national bank charter, and the other two....