{"id":153696,"date":"2021-01-13T20:47:06","date_gmt":"2021-01-13T17:47:06","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/an-online-future-for-finance-is-inevitable-says-occs-brooks\/"},"modified":"2021-01-13T20:47:06","modified_gmt":"2021-01-13T17:47:06","slug":"an-online-future-for-finance-is-inevitable-says-occs-brooks","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/an-online-future-for-finance-is-inevitable-says-occs-brooks\/","title":{"rendered":"# An online future for finance is inevitable, says OCC’s Brooks"},"content":{"rendered":"

“# An online future for finance is inevitable, says OCC’s Brooks <\/strong>”
\n<\/p>\n

The departing leader of the Office of the Comptroller of the Currency is convinced that the future of finance is blockchain-native, per a conversation with crypto analytics firm Elliptic on Wednesday.<\/p>\n

Described by Elliptic CEO Simone Maina as “a fairy godfather to the crypto industry,” Brooks has been a leading light in U.S. federal policy towards crypto since taking over for Comptroller Joseph Otting in May. Today, he outlined views that follow an opinion piece he wrote for the Financial Times yesterday. <\/p>\n

Namely, Brooks took the opportunity to promote his vision of an OCC that checked algorithms rather than bankers for responsible behavior: \u201cImagine a world where we\u2019re granting charters to softwares as opposed to individuals.\u201d<\/p>\n

The vision falls in line with Brooks’ overall work to push forward a national charter for non-depository financial institutions \u2014 which detractors have called a “nonbank charter.”\u00a0In broader terms, the Acting Comptroller saw the technological change that he is trying to prepare laws for as inevitable:<\/p>\n

\u201cMy thesis is that it is inevitable that the future of finance will go on the internet like information did 25 years ago, and we need to prepare banks for that world and we need to prepare banking charters for that world.\u201d<\/p><\/blockquote>\n

Describing recent political deplatforming\u00a0from social media<\/a> and payments processors\u00a0as “chilling,” Brooks went on to argue that:\u00a0<\/p>\n

\u201cCrypto is about freedom. There is no CEO to deplatform. If you didn\u2019t believe freedom mattered last week, you should believe it matters today.\u201d<\/p><\/blockquote>\n

However, Brooks confirmed what has long been suspected: His time at the OCC will end with the incoming Biden administration. \u201cThere will be another comptroller and it won\u2019t be me,\u201d he said.<\/p>\n<\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“# An online future for finance is inevitable, says OCC’s Brooks ” The departing leader of the Office of the Comptroller of the Currency is convinced that the future of finance is blockchain-native, per a conversation with crypto analytics firm Elliptic on Wednesday. Described by Elliptic CEO Simone Maina as “a fairy godfather to the…<\/p>\n","protected":false},"author":1,"featured_media":153697,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2021-01\/c2af4feb-1dd9-4424-985a-a3d64cccda7e.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74888,75493,78157,75269,71939,70934],"class_list":["post-153696","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-banking","tag-stablecoin","tag-stripe","tag-us-government","tag-banks","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/153696","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=153696"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/153696\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/153697"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=153696"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=153696"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=153696"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}