OCC Appoints Blockchain Executive Jonathan Gould as New Chief Amid Crypto Push

Jonathan Gould, a former blockchain executive with extensive regulatory experience, has been confirmed as the new head of the Office of the Comptroller of the Currency (OCC). The US Senate voted 50 to 45 on Thursday to approve his nomination, making him the OCC’s first permanent chief since 2020. Gould previously served as Bitfury’s chief legal officer and held senior roles at the OCC during the previous Trump administration. His return to the OCC signals a significant shift in the federal banking regulator's approach to emerging technologies, including cryptocurrencies.

Gould’s confirmation comes at a critical time for the US banking sector, as lawmakers and regulators grapple with how to oversee digital assets, particularly stablecoins. The Senate’s approval of his nomination precedes “Crypto Week” in the House, where the GENIUS Act is set to be considered. This bill aims to establish strict guidelines for stablecoin issuers, including full dollar backing and mandatory annual audits for those with large market caps. The political landscape remains tense, with Senator Cynthia Lummis, a long-time crypto supporter, initially voting against Gould’s nomination due to concerns over federal preemption of state banking laws and stablecoin rules. However, she ultimately voted in favor during the final count.

The OCC has already taken steps to modernize its approach to cryptocurrencies this year. The agency clarified that US banks are permitted to buy and sell crypto assets for themselves, and it updated its internal guidance by removing references to “reputation risk.” However, the OCC emphasized that banks must still manage all related risks responsibly. Senate Banking Committee Republicans stated that Gould will continue efforts to refocus the OCC on its core mission of bank supervision and financial soundness. The American Bankers Association welcomed his appointment and called for a regulatory framework that supports national bank preemption and a resilient financial system.

Gould is expected to replace Acting Comptroller Rodney Hood and will play a crucial role in shaping how US banking policy intersects with the rapidly evolving crypto sector. His appointment adds momentum to the broader push for clearer regulation as digital assets gain more mainstream financial traction. The OCC’s shift towards a more crypto-friendly stance, coupled with Gould’s extensive experience in both the blockchain industry and regulatory oversight, positions the agency to navigate the complexities of emerging technologies more effectively. This change in leadership is likely to influence future policy battles and regulatory frameworks, ensuring that the US banking system remains adaptable and resilient in the face of technological advancements.