Media: Brian Brooks, Director of OCC, resigns


Brian Brooks will be stepping down by the end of the week. Politico columnist Victoria Guida reports this.

Indeed, Brooks previously held a leadership position at Coinbase. Donald Trump appoints him as head of the OCC in the summer of 2020.

Under its control, the regulator authorized banks to hold collateral for stable coins. The same is true for keys to cryptocurrency wallets on behalf of clients. In January 2021, the OCC provided financial institutions with the ability to use public blockchains and stablecoins for settlements.

In November 2020, six members of the United States Congress criticized the work of the OCC under Brooks. In their view, the regulator has paid too much attention to cryptocurrencies.

We will recall that the financier Gary Gensler has appointed a probable candidate for the post of head of the American Securities and Exchange Commission.

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