U.S. Senate Confirms Jonathan Gould as Crypto-Friendly Comptroller of the Currency

Jonathan Gould has been confirmed by the U.S. Senate as the Comptroller of the Currency at the Office of the Comptroller of the Currency (OCC) for a five-year term. The confirmation, which passed with a 50-45 vote along party lines, has garnered significant attention from both the crypto and banking industries due to Gould's extensive regulatory experience and his views on key issues.

Gould's tenure at the OCC in 2019, during a period of significant crypto banking guidance, suggests a potential resurgence of crypto-friendly policies under his leadership. During his Senate Banking Committee hearing in March 2025, Gould emphasized the need to address de-banking practices, arguing that reputation risk is often used as a political tool. He supported the OCC's efforts to remove reputation risk from bank supervision, advocating for clearer metrics such as litigation risk and anti-money laundering compliance. This stance is seen as a positive sign for crypto firms, which have long struggled with unpredictable banking relationships.

Gould also highlighted the importance of allowing banks to engage in prudent risk-taking, cautioning against the post-financial crisis mindset that aims to eliminate risk entirely. He noted that this approach can restrict credit availability, stifle innovation, and weaken systemic resilience. This perspective contrasts with the Biden administration's more cautious approach under Acting Comptroller Michael Hsu, who viewed crypto as a potential systemic risk similar to the 2008 financial crisis. Gould expressed that many digital asset activities are legally permissible and indicated his willingness to support their safe and sound pursuit.

Gould's experience as Chief Operating Officer and Deputy Comptroller under Acting Comptroller Brian Brooks further underscores his crypto-savvy credentials. During this period, the OCC made significant strides by authorizing federally chartered fintech and crypto banks, approving activities such as crypto custody and stablecoin reserve holding. These innovations, which were authorized under letters bearing Gould’s signature, demonstrate his deep familiarity with the crypto industry.

Senate Republicans, led by Senate Banking Committee Chair, praised Gould as a reformer who will end politically motivated de-banking and ensure financial institutions serve all credit-worthy Americans. Meanwhile, Democratic Leader voiced concerns that Gould’s past record weakened safeguards and favored Wall Street interests over the public. Despite the partisan debate, Gould’s confirmation marks a comeback for the OCC’s crypto-forward regulatory approach, which had stalled under the previous administration. With him at the helm, the OCC is expected to reinvigorate a pragmatic, innovation-friendly stance, offering a hopeful sign for the future of crypto within the U.S. banking system.

Gould's appointment is seen as a significant move towards integrating cryptocurrencies into the mainstream financial system. His background in blockchain technology and his previous role at the OCC position him well to navigate the complexities of regulating digital assets. The OCC, under Gould's leadership, is anticipated to adopt a more crypto-friendly approach, which could pave the way for greater innovation and adoption of cryptocurrencies in the financial sector.

Gould's confirmation is part of a broader trend of appointing individuals with expertise in cryptocurrencies and blockchain technology to key regulatory positions. This trend reflects the growing recognition of the importance of digital assets in the global economy and the need for regulatory frameworks that can support their development while protecting consumers and maintaining financial stability.

Gould's pro-crypto stance is expected to encourage more financial institutions to engage with digital assets, potentially leading to increased investment in cryptocurrencies and blockchain technology, as well as greater innovation in the sector. However, the regulatory landscape for cryptocurrencies remains complex and uncertain. The OCC, under Gould's leadership, will need to work closely with other regulatory bodies and stakeholders to develop effective regulatory frameworks that can support the growth of the cryptocurrency industry while addressing challenges related to security, consumer protection, and market integrity.