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Donald Trump Nominates Cryptocurrency Supporter To Serve 5 Years as Comptroller of Currency

The present President of the United States of America, Donald Trump has nominated Brian Brooks to serve a five year term as Comptroller of the Currency recently.

Notably, Brooks has been broadly regarded as an acquaintance to the digital asset sector. During his minute stretch as the acting head of the federal agency, he emphasized on carrying out amendments that favor the crypto business.

Apropos his nomination, Brooks stated his gratitude in a statement, mentioning:

“The OCC aims to promote fair access to capital and credit for the hundreds of millions of customers the federal banking system serves. We strive to make sure banks remain capable of providing the financial services that businesses and communities depend on to conduct their important activities each day.”

Brooks’ nomination by Trump still necessitates the Senate to authorize him before he becomes the official Comptroller of the national bank supervisory body.

Prior to his nomination appearing before the Senate house, he has to first gauge through the validation hearing of the United States Senate Banking Committee which supervises the Office of the Comptroller of the Currency.

The aforementioned 2 hearings are required to be completed prior to 20th January, 2021. If he is not confirmed prior to this date, Joe Biden, the new President-elect, can move forward to suggest a new contender for this place.

Image by Sambeet D from Pixabay