The US Acting Comptroller of the Currency on Crypto Banks
In this episode of Unchained Podcast, its founder and host Laura Shin interviews Brian Brooks, the current United States Acting Comptroller of Currency and former Chief Legal Officer at cryptocurrency exchange Coinbase.
In this episode, they discuss:
● 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.
● How he thinks about the ongoing COVID-19 pandemic, its effect on the economy, and the government’s response through stimulus will affect the crypto industry.
The interview was published on October 27, 2020.