President Trump creates a pro-digital asset team at finance oversight agencies through his nominations of Jonathan Gould and Jonathan McKernan.
The former OCC chief counsel John Gould now works as a partner at Jones Day as the next OCC head. His experience as Bitfury’s top legal officer will help speed up links between banks and cryprocurrencies.
The nomination arrives as Congress evaluates legislation that names the OCC as the main authority over stablecoins.Trump has named Jonathan McKernan as the new Consumer Financial Protection Bureau leader from his role at the Federal Deposit Insurance Corporation.
Trump’s Pro-Crypto Financial Overhaul
McKernan who has Treasury Department and Senator Toomey experience will lead the CFPB while opposing its regulatory methods as directed by the administration.All these choices reflect major management shifts that President Trump has made in the federal financial system.
According to the Wall Street Journal reports the President evaluates combining FDIC and OCC activities within an enlarged financial oversight plan. He picks crypto-friendly individuals such as Paul Atkins to direct SEC and Brian Quintenz to head CFTC.
Professional supporters of digital assets work at Congress to design new policies for crypto assets. Senator Tim Scott and Representative French Hill work together to create new laws that control stablecoins plus make overall rules for digital assets.
The new appointments by Trump indicate a significant change in policy as he places supporters of crypto at vital regulatory agency heads. After approval which will let these officials manage financial regulation activities more favorably for digital currency users and banks.
