Binance appoints former U.S. banking regulator as its new CEO

Binance appoints former U.S. banking regulator as its new CEO post thumbnail image

Brian Brooks, the former acting comptroller of the forex of the United States Office of the Comptroller of the Currency (OCC) is appointed new Main Government Officer for the U.S. affiliate of the world’s biggest cryptocurrency exchange Binance.

Brooks to start with day in business office will be May 1. He is replacing present-day Binance U.S. CEO Catherine Coley.

Brooks has beforehand served as the head of Coinbase’s legal group and is considered a popular figure in the crypto market.

Again in his times at the OCC he was often referred to as the “first fintech Comptroller” and “Crypto Comptroller.” He acquired these nicknames owing to his continued determination to deliver regulatory clarity for crypto. It turned out to be a quick gig however with the OCC where by Brooks served involving Might 2020 and January 2021

Changpeng Zhao, Binance founder and CEO, said that Brooks’ experience and understanding will be invaluable as Binance US is eager to broaden. “Brian is an esteemed leader with an unparalleled mix of expertise across standard economical companies, governing administration, and the digital property sector. Binance US’ capability to attract an govt of Brian’s caliber is a testament to the energy of its platform,” Zhao claimed.

All set to compete

In a reaction to his current appointment, Brooks instructed The Wallstreet Journal that his priorities at Binance US would include building the exchange a powerful competitor of Coinbase. In addition, he will proceed his commitment to regulatory compliance.

“We are at the cusp of mainstream adoption of blockchain know-how and electronic tokens by individuals, institutions and governments alike. I am keen to operate closely with market individuals and policymakers to acquire an enduring regulatory framework that enables People to experience the benefits of decentralized finance for generations to come,” Brooks commented.

The Binance U.S affiliate was launched in September 2019 and is headquartered in San Francisco.

It is not the very first time a former U.S. federal government official has joined Binance. In March this year, the exchange employed previous U.S. Ambassador to China, Maxwell Baucus as a federal government relations advisor.

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