Former President Donald Trump nominated Jonathan Gould, a former executive of blockchain firm Bitfury, to lead the Office of the Comptroller of the Currency (OCC). If confirmed, Gould will be in charge of the regulation and supervision of national banks, guaranteeing the stability of the US financial system.
Gould has experience in both the cryptocurrency and traditional finance areas. Prior to his employment as Bitfury’s top legal officer, he was the OCC’s senior deputy comptroller and chief counsel from 2018-2021. He also worked at investment firm BlackRock before joining the Trump administration’s financial regulatory team.
The OCC oversees large financial organizations like JPMorgan Chase and Bank of America. The crypto industry has welcomed Gould’s appointment, with Blockchain Association CEO Kristin Smith adding that his knowledge in digital assets qualifies him to manage the agency efficiently.
Industry leaders see the nomination as a significant step toward incorporating cryptocurrency into traditional finance. Avichal Garg, co-founder of investment firm Electric Capital, stated that Gould’s leadership might boost banking access for crypto companies and counterbalance regulatory policies viewed as anti-digital assets.
Gould has previously expressed worry about regulatory efforts that discourage banks from dealing with digital assets. In a 2023 congressional session, he cautioned that such policies could stifle innovation and hinder financial institutions’ ability to support cryptocurrency startups.
Trump’s newest appointments point to a broader push for crypto-friendly leadership in banking regulatory organizations. In addition to Gould, Trump is said to have chosen Brian Quintenz, the director of pro-crypto policy at venture capital company Andreessen Horowitz, to run the Commodity Futures Trading Commission (CFTC). Quintenz is likely to advocate for measures that establish the CFTC as the dominant regulator of digital assets, surpassing the Securities and Exchange Commission.
Further reform of federal financial authorities is also being discussed. According to reports, the Trump administration is considering merging the Federal Deposit Insurance Corporation (FDIC) and the OCC, bringing it under the purview of the Treasury Department.
