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Brian Brooks, the former acting comptroller of the currency of the United States Office of the Comptroller of the Currency (OCC) is appointed new Chief Executive Officer for the U.S. affiliate of the world’s largest cryptocurrency exchange Binance.
Brooks first day in office will be May 1. He is replacing current Binance U.S. CEO Catherine Coley.
Brooks has previously served as the head of Coinbase’s legal team and is considered a prominent figure in the crypto industry.
Back in his days at the OCC he was often referred to as the “first fintech Comptroller” and “Crypto Comptroller.” He earned these nicknames due to his continued commitment to provide regulatory clarity for crypto. It turned out to be a short gig though with the OCC where Brooks served between May 2020 and January 2021
Changpeng Zhao, Binance founder and CEO, said that Brooks’ expertise and knowledge will be invaluable as Binance US is eager to expand. “Brian is an esteemed leader with an unparalleled blend of experience across traditional financial services, government, and the digital assets industry. Binance US’ ability to attract an executive of Brian’s caliber is a testament to the strength of its platform,” Zhao said.
In a reaction to his recent appointment, Brooks told The Wallstreet Journal that his priorities at Binance US would include making the exchange a strong competitor of Coinbase. In addition, he will continue his commitment to regulatory compliance.
“We are at the cusp of mainstream adoption of blockchain technology and digital tokens by individuals, institutions and governments alike. I am eager to work closely with industry participants and policymakers to develop an enduring regulatory framework that enables Americans to reap the benefits of decentralized finance for generations to come,” Brooks commented.
The Binance U.S affiliate was launched in September 2019 and is headquartered in San Francisco.
It is not the first time a former U.S. government official has joined Binance. In March this year, the exchange hired former U.S. Ambassador to China, Maxwell Baucus as a government relations advisor.