Trump Nominates Ex-Crypto Executive Jonathan Gould As US Bank Regulator

Trump nominated Jonathan Gould, a former crypto executive, to lead the OCC.

The crypto industry expects his appointment to improve banking access for digital asset firms.

Stricter compliance measures could follow, but innovation-friendly policies may also emerge.

US President Donald Trump has nominated Jonathan Gould to head the Office of the Comptroller of the Currency (OCC). The White House submitted his nomination to the Senate on February 11. If confirmed, he will serve a five-year term as the country’s top banking regulator.

Gould is a former chief legal officer at blockchain firm Bitfury and a current partner at Jones Day. He previously served as senior deputy comptroller and chief counsel at the OCC from 2018 to 2021. Before that, he worked at BlackRock as a director from 2014 to 2018. His experience in banking and cryptocurrency could influence regulatory decisions in the financial sector.

Crypto Community Supports Gould’s Nomination

Kristin Smith, CEO of the Blockchain Association, praised Gould as an excellent choice for the role. She believes his crypto background will help him lead the OCC effectively. Investment firm Electric Capital co-founder Avichal Garg also supported his nomination. He said Gould will help crypto firms gain better access to banking services.

Garg added that Gould opposes Operation Chokepoint 2.0, a term used by the crypto industry. It refers to alleged efforts by the Biden administration to limit crypto firms’ access to banking. In a 2023 hearing, Gould warned that strict regulations could discourage banks from working with digital asset businesses.

Trump’s Focus on Crypto-Friendly Regulators

Trump’s nomination of Gould is part of a broader effort to appoint crypto-friendly officials. The Wall Street Journal reported that Trump’s team is considering merging the Federal Deposit Insurance Corporation (FDIC) with the Treasury. They may also combine its regulatory role with the OCC.

Another key nominee is Brian Quintenz, a policy head at Andreessen Horowitz’s crypto arm. Trump nominated him to chair the Commodity Futures Trading Commission (CFTC). The industry expects Quintenz to push for pro-crypto policies and strengthen the CFTC’s role in digital asset regulation.

Stricter Compliance Expected for Crypto

Trump also nominated John Hurley as the Treasury’s undersecretary for terrorism and financial crimes. He will oversee efforts to combat financial crimes, including money laundering. Garg noted that Hurley has invested in Bitcoin and may take a balanced approach to crypto.

Hurley is expected to impose strict compliance measures on the industry. He may oversee stablecoins and crack down on illegal financial activities. Despite this, his policies could support innovation while ensuring strong regulatory guardrails. Trump’s latest nominations suggest a shift toward clearer crypto regulations in the US.