Senate Confirms Crypto-Friendly Gould as OCC Chair Amid Regulatory Push

The US Senate has confirmed the appointment of Jonathan Gould, a former executive at a blockchain company, to lead the Office of the Comptroller of the Currency (OCC). The confirmation vote was 50-45, and the nomination was subsequently sent to President Donald Trump for his final approval. Gould, who previously served as general counsel at Bitfury, a blockchain technology developer, and as senior vice president and general counsel at the OCC, was nominated for the OCC chair position in February.

Senator Cynthia Lummis, a known advocate for cryptocurrency, initially voted against Gould's nomination during a procedural roll call. Lummis's spokesperson indicated that the senator sought further discussions with Gould regarding stablecoin regulations and the potential override of federal banking laws by state laws. However, Lummis ultimately voted in favor of Gould's confirmation.

Gould's appointment comes at a pivotal time as the US Congress accelerates its efforts to regulate the cryptocurrency sector. The House of Representatives is set to debate the GENIUS Act, a stablecoin bill, during "Crypto Week." This legislation aims to fully back stablecoins with US dollars or similar liquid assets, mandate annual audits for issuers with a market capitalization exceeding $50 billion, and establish rules for foreign stablecoin issuers.

The OCC has been taking progressive steps towards embracing cryptocurrency throughout 2025. The agency has clarified that US banks can trade crypto assets on their own behalf and has announced plans to remove "reputational risk" clauses from its guidelines. These actions reflect a growing acceptance of cryptocurrency within the regulatory framework, which is likely to foster further innovation and investment in the sector.

Gould's appointment is expected to bring a crypto-friendly perspective to the OCC, potentially influencing future regulatory decisions in favor of the cryptocurrency industry. His background in both the blockchain sector and the OCC positions him well to navigate the complexities of regulating this emerging technology. The confirmation of Gould as the head of the OCC is a significant development for the cryptocurrency world, as it signals a more supportive regulatory environment for digital assets.