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Former top US banking regulator Brian Brooks has been appointed CEO of the world’s largest cryptocurrency exchange’s US subsidiary.
Brian Brooks, the former acting comptroller of the currency at the United States Office of the Comptroller of the Currency, is poised to become the next CEO of Binance US, a global cryptocurrency exchange.
According to a Tuesday announcement, Brooks will replace current Binance US CEO Catherine Coley effective May 1, 2021.
Brooks, who was formerly the head of Coinbase’s legal office, has emerged as a leading figure in the crypto community as a result of his ongoing attempts to provide regulatory transparency for crypto. Brooks, dubbed the “first fintech Comptroller” and “Crypto Comptroller” in the community, acted as acting comptroller of the currency from May 2020 to January 2021.
Changpeng Zhao, CEO and Founder of Binance, said that Brooks’ experience and understanding will be invaluable as Binance US expands. “Brian is a renowned leader with unrivalled experience in traditional financial services, government, and the digital assets industry. Binance US’ ability to recruit an executive of Brian’s calibre demonstrates the platform’s strength,” he said.
In an interview with The Wall Street Journal, Brooks said that his priorities at Binance US would include making the exchange a strong competitor of Coinbase as well as reinforcing its commitment to regulatory compliance.
“We are at the cusp of mainstream adoption of blockchain technology and digital tokens by individuals, institutions and governments alike. I am eager to work closely with industry participants and policymakers to develop an enduring regulatory framework that enables Americans to reap the benefits of decentralized finance for generations to come,” Brooks stated.
Binance launched its U.S. affiliate in September 2019. Headquartered in San Francisco, the exchange positioned itself as a separate company from the global Binance exchange, while both are founded by Zhao.