Senate confirms former blockchain executive Jonathan Gould to lead OCC
Quick Take Jonathan Gould was previously chief legal officer at Bitfury and, before that, was senior deputy comptroller and chief counsel at the OCC. Earlier in the day, during a procedural vote for Gould’s nomination, Sen. Cynthia Lummis, who is very pro-crypto, voted against his nomination, according to reporting from Punchbowl News.
The U.S. Senate voted to confirm former blockchain executive Jonathan Gould to lead the Office of the Comptroller of the Currency, sending the nomination to President Donald Trump for final approval.
The Senate voted 50 to 45 on Thursday.
Gould was previously the chief legal officer at Bitfury and, before that, served as senior deputy comptroller and chief counsel at the OCC, which regulates and supervises national banks and federal savings associations. Trump tapped Gould to lead that agency in February .
Earlier in the day, during a procedural vote for Gould's nomination, Sen. Cynthia Lummis, a staunch crypto advocate, voted against his nomination, according to reporting from Punchbowl News' Brendan Pedersen. A Lummis spokesperson said that the senator needed to have further discussions with Gould regarding stablecoin legislation and the "federal preemption of state banking laws," Pedersen reported.
During the afternoon vote, Lummis ultimately voted yes to confirm.
Lawmakers are quickly moving ahead with stablecoin legislation, with next week designated as "Crypto Week" to consider the GENIUS Act in the House. The bill requires stablecoins to be fully backed by U.S. dollars or similarly liquid assets, mandates annual audits for issuers with a market capitalization exceeding $50 billion, and establishes guidelines for foreign issuance.
The OCC has already made a few more crypto-friendly moves this year, including clarifying that U.S banks can buy and sell crypto assets on their behalf. The agency also said it was removing references to reputation risk from its handbooks and guidance, though it noted that it would not change its expectation on how banks handle risks.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Netflix (NFLX.US) Q3 revenue up 12% year-on-year; full-year advertising revenue forecast downgraded; stock price falls over 5% after hours
Driven by growth in subscribed users, higher membership prices, and increased advertising revenue, Netflix's Q3 revenue increased by nearly 12% year-on-year, net profit surged by 44%, and operating profit margin further expanded.
AI trading is expected to make a comeback after the US midterm elections! Citadel Securities: Investors are waiting for the right time to re-enter the market
Scott Rubner, Head of Stock and Derivatives Strategy at Castle Securities, stated that with the US midterm elections approaching, investors are temporarily avoiding stocks related to artificial intelligence. However, this situation may reverse after the elections conclude in November.
United Airlines (UAL.US) Achieves Record High Revenue in Q3, Up Over 17% Year-on-Year to Nearly $17.9 Billion
Benefiting from strong passenger demand, rising ticket prices, and growth in premium cabin business, United Airlines' Q3 revenue increased by 17.4% year-on-year, reaching a historic high.
Anthropic prepares for epic IPO! Future computing power expenditures may reach $750 billion, net loss of $80.7 billion in the first half of the year
According to reports citing the draft prospectus for the initial public offering of artificial intelligence startup Anthropic, as the company prepares to go public in the US stock market, it may need to invest up to $750 billion in additional computing power over the next few years.
Crypto prices
More
