BREAKING: US Senate Confirms Ex-Bitfury Exec Jonathan Gould to Lead OCC

In a significant move for the financial and digital asset sectors, the US Senate has confirmed Jonathan Gould, a former executive from blockchain infrastructure company Bitfury, to lead the Office of the Comptroller of the Currency (OCC). This appointment places an individual with direct experience in the crypto space at the helm of a crucial US banking regulator.

US Senate Confirms Key Banking Regulator Head

The confirmation vote took place in the US Senate on Thursday, with lawmakers voting 50-45 in favor of confirming Jonathan Gould as the next Comptroller of the Currency. He is expected to serve a five-year term in the role, following his nomination by US President Donald Trump.

Gould is not new to the OCC, having previously served as the senior deputy comptroller and chief counsel from 2018 to 2021. His return marks a notable change in leadership for the agency responsible for overseeing national banks and federal savings associations.

Jonathan Gould’s Background Includes Bitfury and Legal Expertise

Prior to his confirmation, Jonathan Gould held the position of chief legal officer at Bitfury, a prominent company in the blockchain infrastructure space. His experience at Bitfury provides him with direct insight into the operational and legal aspects of the digital asset industry. Beyond his time at Bitfury and the OCC, Gould is also a partner at the law firm Jones Day, further highlighting his extensive legal background relevant to financial regulation.

What This Means for the OCC and Regulation

Jonathan Gould‘s confirmation to lead the OCC is part of a broader series of appointments by the Trump administration to key US financial regulatory bodies. These appointments signal a potential shift in regulatory approaches. Many observers, both within and outside government, have suggested that some of the administration’s picks may be more receptive to or understanding of crypto industry interests. This includes previous confirmations like Paul Atkins to head the Securities and Exchange Commission (SEC).

With Gould confirmed, acting OCC head Rodney E. Hood is likely to step down. This transition introduces new leadership perspectives to the agency at a time when digital assets are increasingly intersecting with traditional finance.

Broader Landscape of Crypto Regulation

The appointment of Jonathan Gould occurs amidst ongoing efforts in the US Senate and House of Representatives to establish clearer frameworks for Crypto Regulation. Lawmakers in the Senate have set a goal to draft and potentially vote on a bill to create a market structure for digital assets by September 30. Simultaneously, Republicans in the House are advancing their proposed Digital Asset Market Clarity (CLARITY) Act. These legislative initiatives, combined with new leadership at regulatory agencies like the OCC, underscore a period of significant potential change for the digital asset landscape in the United States.

It is also worth noting the connection to Brian Brooks, who served as acting Comptroller of the Currency from 2020 to 2021. Brooks also had ties to Bitfury, serving briefly as its CEO after his time at the OCC. His career path, including roles at Coinbase and Binance.US, highlights the increasing movement of individuals between government regulatory roles and the crypto industry.

Summary

The confirmation of Jonathan Gould by the US Senate to lead the OCC is a pivotal development. As a former Bitfury executive with prior experience at the OCC, Gould brings a unique perspective to the banking regulator. His appointment, alongside other administration picks, suggests a potential evolution in how US financial bodies approach digital assets and Crypto Regulation. This change in leadership coincides with active legislative efforts in Congress to define the market structure for digital assets, making it a crucial time for the future of crypto in the United States.