• Brian Brooks leaves OCC
    Cryptocurrencies,  Regulation

    Crypto-friendly Brian Brooks steps down as bank overseer

    The former Coinbase executive’s rulings at the Office of the Comptroller of the Currency aided the cryptocurrency industry by allowing banks to custody and make payments with stablecoins

    During his eight months at the head of the Office of the Comptroller of the Currency, Brooks, a former general counsel at Coinbase, enacted a number of reforms that helped push the cryptocurrency industry farther into the banking industry’s mainstream, most recently authorizing banks to use stablecoins to make payments and for other transactions on behalf of customers.

  • OCC banks cannot discriminate crypto
    Cryptocurrencies,  Politics,  Regulation

    Treasury Dept says banks cannot discriminate against industries like crypto

    Acting Comptroller of the Currency Brian Brooks, a former Coinbase executive, issued another ruling aiding cryptocurrency companies

    Targeting one of the cryptocurrencies biggest complaints, the Office of the Comptroller of the Currency proposed a rule on Nov. 20 that would require banks to “provide access to services, capital, and credit based on the risk assessment of individual customers, rather than broad-based decisions affecting whole categories or classes of customers.”

  • FinCEN bank warning crypto
    Cryptocurrencies,  Politics,  Regulation

    FinCEN’s mixed message on banks and crypto

    Financial Crimes Enforcement Network Director Kenneth Blanco’s warning that banks can expect tough questions about cryptocurrencies comes in the wake of other Treasury Department rulings encouraging custody service for crypto and stablecoins

    Taken together, the encouraging letter from acting Comptroller of the Currency Brian Brooks and stark warning from Financial Crimes Enforcement Network Director Kenneth Blanco present a very mixed message to banks and other financial institutions. Both agencies are part of the U.S. Treasury Department.

  • OCC lead crypto innovation
    Cryptocurrencies,  Regulation

    Senate banking chair: U.S. should lead in crypto innovations

    Sen. Mike Crapo took note of former Coinbase lawyer Brian Brooks’ activity at the Office of the Comptroller of the Currency in moving to create “clear rules of the road” for the crypto industry

    Brian Brooks, who left his position as chief legal officer of cryptocurrency exchange Coinbase to take up the reins at the Office of the Comptroller of the Currency, has been active in helping the industry make nice with banks that have long avoided it.