Brian Brooks resigns as head of the OCC; Blake Paulson to become acting Comptroller of the Currency

On Thursday, January 14, Brian Brooks resigned as head of the Office of the Comptroller of the Currency (OCC) within the U.S. Department of the Treasury.

Brian P. Brooks to Step Down, Blake Paulson to Become Acting Comptroller of the Currency on January 14, 2021 https://t.co/bGpnNapT1F

— OCC (@USOCC) January 13, 2021

Brooks described the regulator as "the most extraordinary of the federal agencies". He said the OCC team had ensured the safe and sound operation of the U.S. banking system for decades to come.

Blake Paulson, the OCC’s chief operating officer, became Acting Comptroller of the Currency.

Information about Brooks’s resignation appeared on January 13.

Under his leadership, the OCC allowed banks to provide custody services for cryptocurrencies, to hold the collateral for stablecoins and to issue them.

In November 2020, six members of the U.S. Congress criticised the regulator’s work for its heightened focus on cryptocurrencies.

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