US Banking Regulator OCC Gets New Chief with Crypto Industry Roots

Key Points

1. Jonathan Gould, former Bitfury legal chief and OCC veteran, was confirmed as the new Comptroller of the Currency by a Senate vote of 50 to 45.

2. Gould's appointment marks the first permanent OCC chief since 2020 and reflects a shift in regulatory focus towards digital assets and stablecoins.

3. The OCC has already taken steps to clarify that US banks can buy and sell crypto assets, removing references to 'reputation risk' as a barrier.

4. Political tensions remain, as seen in Senator Cynthia Lummis' initial opposition to Gould's stablecoin rules before ultimately voting in favor.

5. Gould is expected to shape US banking policy in relation to the evolving crypto sector while maintaining the OCC's core mission of bank supervision and financial soundness.