Brian Brooks got his start in traditional finance before joining Coinbase in 2018 and is currently the acting comptroller of the currency. In this episode, he discusses:
● how his background in traditional financial services led him to take a position at Coinbase
● whether the role blockchain and crypto will likely play in the financial future is being recognized at the federal level
● whether or not banks have always had the authority to custody crypto for their customers
● how he expects things to unfold in the coming years as banks begin to become more involved in crypto custody
● his thoughts on Kraken and others launching crypto banks and whether it will lead to the founding of other crypto banks
● how his office is pushing for a national fintech charter, and how it could affect less crypto-friendly states
● whether banks that work with crypto companies supporting unhosted wallets are prohibited from holding stablecoin reserves
● whether or not OCC regulations cover DeFi, and the regulatory challenges that open source protocols present
● whether he sees a time when governments and regulators participate in the governance of crypto platforms
● what roles he thinks public and private sectors, as well as commercial banks, should play in the creation of a central bank digital currency
● what stance the OCC might take around privacy in blockchain transactions
● how U.S. regulators can offer more clarity to the crypto industry
● and how he thinks the pandemic, its effect on the economy, and the government’s response through stimulus will affect the crypto industry

Thank you to our sponsor!
Crypto.com: https://www.crypto.com

Episode links:
Brian Brooks:   / brianbrooksocc  
Office of the Comptroller of the Currency: https://www.occ.gov

Letter to authorize banks to provide crypto custody services for customers: https://www.occ.gov/topics/charters-a...

The significance of the letter for banks and crypto companies: https://www.forbes.com/sites/matthoug...

The OCC’s statement on federally chartered banks and crypto custody: https://www.occ.gov/news-issuances/ne...

His support for a federal licensing framework for crypto companies: https://www.coindesk.com/us-banking-r...

Questions about the OCC’s stablecoin guidance
https://www.coindesk.com/questions-oc...

CSBS “One Company, One Exam” policy: https://www.coindesk.com/csbs-firms-e...

Battle with states over federal licensing program: https://www.politico.com/news/2020/08...

FinCEN’s 2019 Regulatory Guidance: https://www.fincen.gov/news/news-rele...

Federal Reserve says it is exploring a central bank digital currency: https://www.coindesk.com/fed-reserve-...

His view that a CBDC should be designed by the private sector:
https://www.theblockcrypto.com/post/6...

The OCC’s Financial Inclusion Project: https://www.occ.gov/topics/consumers-...

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