Brian Brooks will lead the US branch of Binance

Former head of the Office of the Comptroller of the Circulation (OCC) at the US Treasury Department, Brian Brooks, will take over as head of the American division of the Binance cryptocurrency exchange. The Wall Street Journal reports .

According to the publication, on May 1, Brooks will replace the current CEO of Binance US Catherine Coley. Whether she will remain in another post or leave the company is not specified.Update: 

In a conversation with CoinDesk, Brooks expressed the opinion that a US subsidiary is likely to compete with Coinbase. He hopes that Binance US will be fully compliant with a wide range of products.

Brooks previously held a leadership position at Coinbase. In the summer of 2020, Donald Trump appointed him head of the OCC.

Under Brooks’ control, the regulator allowed banks to store stablecoin collateral and cryptocurrency wallet keys on behalf of customers. The OCC has also provided financial institutions with the ability to use public blockchains and stablecoins for settlements.

In November 2020, six members of the U.S. Congress criticized the work of the OCC. In their opinion, the management paid too much attention to cryptocurrencies.

On January 14, 2021, Brooks resigned as head of the OCC. He later became an independent member of the board of directors of the data protection startup Spring Labs.

Recall that in February, Brian Brooks called Tesla’s investment in bitcoin amazing and alarming news at the same time.

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