Digital currency-friendly Brian Brooks nominated as currency comptroller

Digital currency-friendly Brian Brooks nominated as currency comptroller

The Acting Comptroller of the Currency Brian Brooks has been nominated to head up the regulator for a five-year term, in a move that could see a notable digital currency advocate appointed to the senior role.

Formerly general counsel for Coinbase, Brooks was nominated for the role by U.S. President Donald Trump, confirming Brooks in the role he has been acting in since May 2020.

Since taking the helm, Brooks has instigated a system of federal licensing for fintech companies, as well as taking steps to better integrate digital currency within the traditionally conservative banking sector.

Welcoming his nomination, Brooks said it was an honor to have been put forward by President Trump: “It is a great honor to have President Donald J. Trump announce his intent to nominate me to serve our nation as the 32nd Comptroller of the Currency.”

“The mission of the Comptroller of the Currency benefits each American by ensuring our national banks and federal savings associations operate in a safe, sound and fair manner. The OCC aims to promote fair access to capital and credit for the hundreds of millions of customers the federal banking system serves.”

On his role going forward, Brooks said he would strive to ensure banks have the financial strength and regulatory support to deliver for the economy.

“We strive to make sure banks remain capable of providing the financial services that businesses and communities depend on to conduct their important activities each day. The more than 3,500 men and women of the OCC tirelessly work to keep the U.S. banking system the most respected in the world and a powerful source of strength for our economy and the nation.”

Brooks must be confirmed before January 20 2021, before U.S. President-Elect Joe Biden assumes office.

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