OCC leader Brian Brooks: ‘Nobody’s going to ban Bitcoin’

CoinTelegraph

Brian Brooks, the head of the Office of the Comptroller of the Currency, said regulators are not looking to “kill” Bitcoin (BTC) but instead ensure its smooth integration into the financial system. 

In an interview with CNBC’s Squawk Box on Friday, Brooks said:

“We’re very focused on getting this right. We are very focused on not killing this, and it is equally important that we develop the networks behind Bitcoin and other cryptos as it is that we prevent money laundering and terrorism financing.”

The Office of the Comptroller of the Currency is the bureau of the Treasury Department that supervises federal banks.

Brooks’ comment was in response to a question about whether the administration of Donald Trump was planning to roll out potentially damaging cryptocurrency regulations before the end of its term. Brian Armstrong, CEO of Coinbase, brought attention to this issue last month in a series of tweets explaining why stringent regulations targeting self-hosted crypto wallets would be a bad idea.

How To Get Free Crypto  

When asked about whether we can expect new regulations by the end of President Trump’s term, Brooks said:

“I think you’re going to see a lot of good news for crypto by the end of the Trump term. Some of it is going to have to do with banks connecting to blockchains, some of it is going to be more clarity around the nature of these assets.”

While acknowledging that it’s a “dangerous world out there,” Brooks said:

“Nobody’s going to ban Bitcoin. Nobody’s going to ban some of these transmission technologies.”

Go to Source
Author: Sam Bourgi


Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.