During a press conference, Acting Comptroller of the Currency Michael Hsu said he and his staff are reviewing “everything” related to cryptocurrency guidance issued under the leadership of his predecessor, Brian Brooks. CoinDesk’s Nik De joins “First Mover” to break down what we know so far about Hsu’s plans for crypto at the OCC.
In an interview at Consensus 2021 Thursday, Binance.US CEO and former Acting Comptroller of the Currency Brian Brooks spoke out against what he sees as the “politicization” of the banking system. “The Hash” panel breaks down Brooks’ statements and discusses Binance.US’s future.
During a 1:1 discussion at Consensus 2021, former Acting Comptroller of the Currency Brian Brooks emphasized the idea of a bank that is “custodying fine art collections or rare wines gets access to the Fed but a bank that is custodying crypto private keys can’t” has no justification outside of political ideology.
Central banks around the world are launching CBDCs, but Brian Brooks, former Acting Comptroller of the Currency and CEO of Binance.US, says it’s unlikely the U.S. will actually make its own CBDC. “It’s clearly the Chinese way. I don’t think we’re going to see that in this country,” Brooks said.
Senator Sherrod Brown (D-OH) is “concerned” about the banking charters granted to crypto firms Paxos, Anchorage, and Protego and has requested that the new acting OCC chief Michael Hsu reevaluate the issue and decisions by Hsu’s predecessor, Brian Brooks. “The Hash” hosts discuss the potential impact for crypto regulation.