Former Coinbase Senior Lawyer Becomes Head of US Banking Regulation
Coinbase, a former leading lawyer for the cryptocurrency exchange, is preparing to take up the position of the US money controller in charge of banking regulation, at least temporarily. This is written by Politico Pro.
Currently, Brian Brooks is the first deputy head of the Office of the Comptroller of the Currency, Joseph Otting, who plans to leave this post. Otting has contributed to reforming policies aimed at preventing financial discrimination against low-income people and minorities. He intends to announce his resignation after the measures proposed by him take effect this week.
A permanent controller will be appointed by President Donald Trump and must be approved by the Senate. Otting is expected to remain in his current position for several more months.
Brooks became his deputy two months ago. Recently, he came up with a proposal to bring crypto companies under federal banking regulation, along with which they will no longer need to undergo licensing at the state level.
In the past, Brooks worked as the head of the legal department of the Coinbase exchange, was a consultant to the largest American mortgage agency Fannie Mae and chairman of OneWest bank, founded by current finance minister Stephen Mnuchin.
Coinbase, a former leading lawyer for the cryptocurrency exchange, is preparing to take up the position of the US money controller in charge of banking regulation, at least temporarily. This is written by Politico Pro.
Currently, Brian Brooks is the first deputy head of the Office of the Comptroller of the Currency, Joseph Otting, who plans to leave this post. Otting has contributed to reforming policies aimed at preventing financial discrimination against low-income people and minorities. He intends to announce his resignation after the measures proposed by him take effect this week.
A permanent controller will be appointed by President Donald Trump and must be approved by the Senate. Otting is expected to remain in his current position for several more months.
Brooks became his deputy two months ago. Recently, he came up with a proposal to bring crypto companies under federal banking regulation, along with which they will no longer need to undergo licensing at the state level.
In the past, Brooks worked as the head of the legal department of the Coinbase exchange, was a consultant to the largest American mortgage agency Fannie Mae and chairman of OneWest bank, founded by current finance minister Stephen Mnuchin.