Jonathan Gould, a former Bitfury executive and Crypto Ally, passed a Senate vote to become the next chairman of the OCC. In this role, he was able to make his state banking policy more code-friendly.
President Trump chose Gould a few months ago, but his confirmation could open up new opportunities. However, his role may further concentrate his authority over cryptography.
Gould could become an OCC chair
The office of the Secretary of the Currency (OCC), a branch within the US Treasury Department, is part of a often overlooked but important federal financial regulations.
For example, in recent months, banks have been able to enable BTC ETF option trading and expand cryptocurrency services. Today, the Senate voted to confirm Jonathan Gould as the next chair for the OCC.
Gould has a long career in the industry. Before his OCC nomination, he was Chief Legal Officer of Bitfury, a blockchain infrastructure company.
President Trump carefully selected him to lead this office several months ago, and his pressing confirmation could speed up some unresolved policy issues.
The OCC is primarily responsible for overseeing the US banking division and could have a significant impact on Crypto during its five-year term. Before him as the lead lawyer for the OCC, he was firmly in favour and supported the regulation of friendly Stablecoin.
Gould can go further as he’s in charge at OCC It promotes the integration of crypto and banking. One possible action to support this is The declaration of Stablecoins issues any essential to the financial infrastructure or parent crypto guidelines.
This is a major improvement from the systematic demanking campaign several years ago.
Still, there are some concerns that this strategy may have important downsides. As Gould moves to make OCC a procrypt tool, it will focus regulators away from state control.
However, if anti-cryptic politicians seize federal equipment, it is more difficult for local jurisdictions to continue supporting policies.
But ultimately, it is difficult to predict long-term political consequences in this extremely unstable moment.
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