The former financial regulator is going to be Binance United State’s new CEO as he joins the digital asset space. Brian Brooks, one of the well-known names in America, would become a CEO affiliated to the world’s biggest crypto exchange, Binance. The prospective CEO was previously the region’s Comptroller of the currency, and insiders explained that the former regulator would take up the role of being Binance’s chief executive in the United States.
Brooks, who had always been supportive of the digital asset space, would take the seat from the previous CEO, Catherine Coley, and this change will become official by May 1. The crypto enthusiast has previously worked for numerous crypto-based firms, including Coinbase, being a member of the firm’s legal team.
Brooks’ efforts as former Comptroller
Brooks has implemented numerous crypto-friendly policies during his time as Comptroller of the currency, which has made him known to member people in the tech industry. During his time as a regulator, he kept pushing for a clear and unambiguous framework for crypto regulations, which helped the industry achieve noticeable growth within a short time.
Many people in the virtual asset space have praised his efforts, and some fondly call him ‘crypto comptroller’ due to his favorable outlook for cryptocurrencies. The regulator became the Comptroller of the currency in May 2020, during Donald Trump’s tenure. The former president had appointed him, and he extended his position for more years.
However, due to the government change, Brooks had to step down from being the Comptroller to allow Joe Biden to appoint his preferred candidate. Binance’s founder, Changpeng Zhao, spoke on Brooks’ addition to the firm’s team, and he explained that the former regulator’s experience is valuable to ensure Binance’s expansion.
Zhao said that Brooks is an esteemed leader, and he drew attention to Brooks’s experience from serving the US government and helping the region achieve regulatory clarity. The global CEO added that the former Comptroller’s addition to the company as one of its executives shows its strength.
Brooks to become a Binance US executive
Brooks has also spoken on his move as the firm’s US CEO, which has attracted some attention from crypto enthusiasts. During his interview with the Wall Street Journal, he revealed that he plans to make Binance US a worthy competitor to Coinbase, the region’s most used exchange. He believes that his knowledge and experience as a former regulator would help him achieve optimum regulatory compliance.
The crypto enthusiast revealed the new crypto trend that has ensured adoption from individuals and businesses. It’s safe to note that more businesses are setting up cryptos as a payment alternative to promote crypto’s usability.
He said that he is happy to work with industry participants and regulators to ensure that Binance complies with America’s regulatory framework. This would undoubtedly allow greater access to decentralized finance, allowing holders to control their money without interference from intermediaries.
Binance joined the US crypto exchange sector in 2019 and has become one of the region’s preferred crypto exchanges. The business has expanded to many countries, and sources revealed that Binance would likely go through more restructuring.