Difference between revisions of "Brian Brooks"

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Latest revision as of 08:48, 23 January 2022

Bio

"Former Coinbase Chief Legal Officer Brian Brooks had a huge first year as the new acting Comptroller of the Currency at the OCC. (It also may be his last.) His interpretive letters over the summer could have positive ramifications for the industry for years to come if they manage to avoid new legislative reversals. Brooks clarified that regulated USD-pegged stablecoins could have their underlying deposits custodied by U.S. banks, and that banks could actually custody other forms of crypto themselves. Huge. And this fall, he went even further, proposing a rule that would forbid banks from discriminating against industries like adult entertainment and crypto. By asking banks to embrace “quantitative, risk-based standards” for supporting new clients he reset the default for gray market customers back to “not guilty.""

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