🌎 Trump Picks Pro Crypto Regulators for Key Posts

Trump Nominates Pro-Crypto Regulators to Key Positions

President Donald Trump has nominated two more veteran regulators to key positions, further solidifying his administration’s pro-crypto stance. Jonathan Gould, a partner at Jones Day and former top lawyer at the Office of the Comptroller of the Currency (OCC), has been nominated as the OCC’s next comptroller. Gould previously served as the OCC’s chief legal officer and senior deputy comptroller, where he played a crucial role in shaping U.S. federal banking rules.

Gould’s experience also extends to the cryptocurrency industry, having served as Bitfury’s chief legal officer. If confirmed by the Senate, Gould could push for greater banking-crypto integration, a move that could have significant implications for the industry. Notably, two bills currently in the House and Senate propose appointing the OCC as the primary regulator of stablecoins.

CFPB to Get a New Chief

Meanwhile, President Trump has nominated Jonathan McKernan, a veteran regulator from the Federal Deposit Insurance Corporation (FDIC), to oversee the Consumer Financial Protection Bureau (CFPB). McKernan has a strong background in policy, having advised the Department of the Treasury, and previously served as an attorney for Senator Pat Toomey.

The nominations of Gould and McKernan are part of a broader effort by the Trump administration to assemble a team of pro-crypto regulators. Other notable nominations include Paul Atkins as U.S. Securities and Exchange Commission chair, Brian Quintenz to chair the Commodity Futures Trading Commission, and Gould at the OCC. These appointments, combined with the presence of pro-crypto lawmakers on crucial committees for financial rulemaking, suggest a shift towards a more crypto-friendly regulatory environment.

Some key takeaways from these nominations include:

Greater banking-crypto integration could become a reality if Gould is confirmed as OCC comptroller.
The OCC could become the primary regulator of stablecoins if the proposed bills in the House and Senate pass.
The Trump administration’s pro-crypto stance is becoming increasingly apparent, with a team of regulators and lawmakers in place to shape the industry’s future.