Trump Eyes Brooks for Pro-Crypto Regulator Roles, Including SEC
Brian Brooks, the former CEO of Binance.US and acting head of the OCC, has been shortlisted for several regulatory positions under Trump. Brooks is not under consideration at the CFTC but may lead other financial institutions.
Since the announcement, Kalshi’s odds have pushed Brooks into second place as the next SEC chairman.
Trump appoints Brooks
According to a reporter from Fox Business News Eleanor TreatBrooks’ name is well known for his roles at various financial institutions. Brooks is likely to play an important role in the financial regulatory system during Trump’s upcoming term as president.
Under Brooks’ direction, the Office of the Comptroller of the Currency fined several major concentrators as early as 2022, including giants such as JPMorgan Chase, Morgan Stanley and Wells Fargo. However, Brooks is very pro-cryptocurrency and is a strong advocate of XRP.
“In addition to the CFTC, some other financial regulators include the Securities and Exchange Commission (SEC), the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), the Financial Industry Regulatory Authority (FINRA), the FSOC (Financial Stability Oversight Council) and Fed,” explain Treat.
since John Thune becomes new Senate Majority LeaderThe community expects the CFTC to play a greater role in cryptocurrency regulation. Trump has already started A radical effort to reposition American institutions The effort to move in a direction that favors cryptocurrencies involves many institutions. The U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC) are the best-known agencies, but other designated agencies also have significant influence.
For example, FDIC has previously refused to insure crypto assetscomplicating the business operations of exchanges and other businesses. The Fed, on the other hand, is responsible for cutting interest rates. All of these have happened Bullish implications for Bitcoin recent. Having an industry ally like Brooks leading each of these agencies could bring significant benefits.
In addition, Brooks may still be nominated as Trump’s new SEC chairman. Famous crypto rival Gary Gensler yes May resign from SEC soon. Whoever replaces him will likely emerge as a champion of cryptocurrencies. For one thing, Brooks’ name doesn’t appear in The Last Rumored Candidates for SEC Chairman. However, since the announcement, his Kalsi Odds has risen to second place.
Ultimately, Brooks is just one of several pro-crypto candidates Trump added to list of key players. He will be part of a larger wave, whether he ends up working at the SEC or taking his old job back at the OCC or any other large institution.
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