Trump to Nominate Former Coinbase Exec. Brooks to Head OCC

If his nomination goes through the US Senate, Brian Brooks will serve a five-year term as Comptroller of the Currency.

By Jeff Benson

1 min read

President Trump today "announced his intent to nominate" Brian Brooks to head the Office of the Comptroller of the Currency (OCC).

Brooks, Coinbase's former Chief Legal Officer, has been serving as acting comptroller since May 29 of this year after Joseph Otting resigned.

If the nomination process is successful—it must be approved by the US Senate—Brooks would serve a five-year term.

Unsurprisingly given his cryptocurrency pedigree, Brooks has brought a greater focus on cryptocurrency assets and services to the OCC, a treasury office that oversees national banks and federal savings associations.

The OCC will likely play a key role in Bitcoin and cryptocurrency adoption moving forward. Indeed it already has—in July, under Brooks' leadership, it said banks could take custody of crypto assets. However, that focus has rubbed some Democratic representatives the wrong way, coming as it does in the midst of a global pandemic.

Get crypto news straight to your inbox--

sign up for the Decrypt Daily below. (It’s free).

Recommended News

Shawn Layden, who served multiple prominent leadership roles in Sony’s PlayStation division during his 32 years with the company, has joined blockchain gaming infrastructure startup . The firm also announced a new $4 million funding round alongside the appointment. Layden departed Sony in 2019 as the Chairman of Sony Interactive Entertainment (SIE) Studios and had simultaneously served

Shawn Layden, who served multiple prominent leadership roles in Sony’s PlayStation division during his 32 years with the company, has joined blockchain gaming infrastructure startup . The firm also announced a new $4 million funding round alongside the appointment. Layden departed Sony in 2019 as the Chairman of Sony Interactive Entertainment (SIE) Studios and had simultaneously served as the President and CEO of Sony Computer Entertainment America from 2014 to 2018. Since leaving the gaming gia...