Brian Brooks to End his Tenure on Thursday

January 14, 2021

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The acting comptroller head of the office of the Comptroller of the Currency (OCC), Brian Brooks appointed last summer for a short period, declared officially after the rumors of him departing went viral. His departure will appear a day following the federal banking regulator allowed cryptocurrency custodian Anchorage a conditional trust charter making it the foremost cryptocurrency native national bank. 


However, the ex-chief legal official at Coinbase has stated several times that he believes blockchain tech and digital assets can create the basis for the future of the banking system.


Brooks said in a messaged explanation through a representative, it has been an amazing privilege to serve the United States as Acting Comptroller of the Currency. The Office of the Comptroller of the Currency (OCC) is the most exceptional of government offices loaded up with the most committed, proficient, and talented staff any chief can like to have. I am incredibly pleased with what we have achieved together through what have been remarkable occasions by any measure, he added.


It is hazy who approaching president Joe Biden may tap to supplant Brooks. The OCC declared that head working official Blake Paulson will turn into the new acting representative then. Law office Davis Polk stated in a public introduction on Wednesday that it is far-fetched Brooks’ endeavors around computerized resource custody will be toppled by his replacement, however further efforts around digital currencies might be eased back. 


Under Brooks, the OCC distributed various interpretative letters encompassing how public banks can communicate with the cryptographic money space, with specific consideration paid to stablecoins and their backers. In any case, he said during a public workshop facilitated by analysis company Elliptic that quite a bit of this work started before his landing in the organization last March.


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