U.S. President Donald Trump has nominated Jonathan Gould to head the OCC at the U.S. Treasury. Previously, he served as the chief counsel of the agency and CLO at Bitfury, reports The Block.
According to Ron Hammond of the Blockchain Association, if confirmed, this appointment could simplify the creation of a regulatory framework for cryptocurrencies.
“His experience ensures that the OCC will have every opportunity for constructive engagement with Congress as it begins to consider the Stablecoin Payments Act and the Financial Innovation and Technology Act,” — said Hammond.
In this regard, Gould might follow the path of Brian Brooks, who allowed institutions to provide cryptocurrency custody services, hold stablecoin reserves, and issue them, Hammond believes.
Brooks’ successor, Michael Hsu, has taken a less crypto-friendly stance.
The OCC regulates and supervises the activities of banks and savings associations at the federal level.
According to WSJ, Trump plans to merge the FDIC with the OCC. At the CFPB, acting agency head Russell Vought has ordered a halt to all enforcement actions.
According to the publication, the U.S. President has nominated Jonathan McKernan to head the latter agency. Previously, he was an advisor to former Senator Pat Toomey and a senior policy advisor at the Treasury.
In June 2024, Coinbase filed a lawsuit against the SEC and FDIC over their attempts to “cut off” the crypto industry from the banking sector. In January, lawyers from History Associates claimed that the latter regulator concealed requested documents.
Earlier, Wyoming Senator Cynthia Lummis threatened the FDIC with criminal charges if the agency indeed destroyed data related to crypto oversight.
In December, Trump officially nominated Paul Atkins as chairman of the SEC, noting his expertise in digital assets.
