US Senate Approves Former Bitfury Executive to Head OCC Banking Regulator

Gould Confirmed as Head of U.S. OCC Office

Jonathan Gould, who formerly held the position of Chief Legal Officer at Bitfury, has officially been appointed to lead the U.S. Office of the Comptroller of the Currency (OCC), following a vote in the Senate.

The Senate voted in favor with a majority of 50-45 on Thursday. This decision confirms Gould’s new role overseeing bank regulatory functions. Before his time at Bitfury, he was a partner at the Cleveland-based law firm Jones Day and served as Senior Deputy Secretary and Chief Attorney at the OCC from 2018 to 2021.

Gould’s nomination is among the latest picks by President Donald Trump since he took office. The Chamber of Commerce has previously supported Trump’s selection of Paul Atkins for the SEC and is anticipated to back Brian Quintenz for the Commodity Futures Trading Commission (CFTC).

With a five-year term expected at the OCC, Gould’s confirmation, along with others, indicates a significant shift in U.S. regulatory leadership under the Trump administration. Many believe that Trump’s appointees align with the crypto industry’s interests, particularly in light of the upcoming 2024 elections.

Following Gould’s confirmation, it’s likely that acting OCC Head Rodney E. Hood will step down. However, as of Thursday, Trump had not yet filled potential vacancies at the CFTC, aside from naming Quintenz.

Brian Brooks, who was the currency representative from 2020 to 2021, took over as CEO of Bitfury after his government tenure. The former OCC head is now the Chief Justice at Coinbase and the CEO of Binance.us, while still being involved with the Strategy Board of Directors.

Senate Moves Toward Crypto Market Structure

Senate lawmakers are preparing to draft, introduce, and vote on a bill aimed at establishing a market structure for digital assets by the September 30 deadline, a major initiative supported by many in the crypto sector.

House Republicans have announced their intention to advance the Digital Asset Market Clarity Act, which begins its legislative journey on Monday. This bill emerged from committee discussions in June but has lagged behind Senate actions.