OCC Chief Brian Brooks Leaving Thursday

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Brian Brooks, who was briefly the head of the Office of the Comptroller of the Currency (OCC) last summer, made the announcement a day after he heard he was leaving.

His departure will come a day after the federal bank’s regulator granted the crypto analyst Anchorage a trust agreement, making it the first native bank.

“It has been a great honor to serve the United States as the Chief Financial Officer,” Brooks said in an email through a spokesman. “The Office of the Comptroller of Currency (OCC) is one of the most amazing federal agencies full of the most dedicated, professional, and talented staff any executive can hope to have. I am very proud of something that has been accomplished together by things that are unique moments by any measure. ”

Under Brooks, the OCC publishes a number of definitive letters around how national banks can deal with cryptocurrency space, with special attention paid to stable funds and their issuers. However, he said during a public meeting hosted by the Elliptic analysis company that much of this work started before his arrival at the agency last March.

The former law enforcement chief at Coinbase has repeatedly said he believes digital assets and blockchain technology could form the basis for the future of the financial system, a view he reiterated during the conference.

“Baskets, in the first place, are savings because what they are doing is allowing the trading of value across networks… they are doing it in a different way traditionally,” he said on Wednesday in what could be a songwriter. your in the public office.

It is unlikely that incoming chairman Joe Biden could step in to replace Brooks. The OCC has announced that chief executive Blake Paulson will become the new player’s caretaker in the near future. Lawyer Davis Polk said in a public statement Wednesday that Brooks’ efforts around digital asset detention are likely to be overcome by his supervisor, although further efforts around digital currencies may slow down.


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