The US Won’t Ban Bitcoin, Says OCC’s Brian Brooks

In letter

  • Deputy Currency Auditor Brian Brooks said regulators are “very focused on not killing the crypto industry”.
  • The US regulators also have no plans to ban Bitcoin, he assured.
  • Brooks also hinted at some “very positive news” for crypto by the end of Donald Trump’s tenure.

Speak with CNBCs Squawk Box today, Brian Brooks, Acting Currency Auditor in the US – and former Chief Legal Officer at Coinbase –something debunked recent rumors about the Treasury Department’s plans to introduce some new, undisclosed crypto rules.

Squawk Box’s Melissa Lee recently cited a series of tweets posted by Coinbase CEO Brian Armstrong during his tenure. “

Brooks didn’t answer expressly refute the rumors – but find that regulators really want to “get this right”.

“We are very focused on getting this right. We’re very focused on not killing this, and it’s just as important that we develop the networks behind Bitcoin and other cryptos as we prevent money laundering and terrorist financing, “Brooks said CNBC.

He added that “there is a balance here and it will work for everyone.” When Brooks was asked directly if there would be new regulations by the end of Donald Trump’s tenure, he hinted that “you will see a lot of good news for crypto”.

Nobody forbids Bitcoin

“So believe me, the messages will be very positive. At the same time, it’s a dangerous world out there, we have to be honest. But nobody is going to ban Bitcoin, nobody is going to ban some of these transmission technologies.” he calmed the audience.

At the end of November, the chairman of the Securities and Exchange Commission, Jay Clayton, announced CNBC The Bitcoin could be more regulated as a payment method.

“I think we will see this mature and I think we will see more regulation in payments,” Clayton said.

On the other hand, the regulator recently It was easier for crypto startups to collect donations.