U.S. Senate Confirms Jonathan Gould as OCC Head

Jonathan Gould was confirmed by the U.S. Senate as Comptroller of the Currency with a 50-45 vote. His appointment awaits President Trump’s final signature.

Gould’s confirmation is expected to foster a crypto-friendly regulatory environment, with implications for stablecoins and banking-crypto interactions.

Gould’s Confirmation Signals Shift in Crypto Regulation

Jonathan Gould has officially been confirmed as the new Comptroller of the Currency, a decision emerging from a closely contested 50–45 Senate vote. Gould, who previously held the position of Chief Legal Officer at Bitfury, initially faced opposition from Senator Cynthia Lummis during procedural voting due to concerns on stablecoin legislation but received her support in the final vote.

Gould advocates for the deregulation and risk management of banks, expressing commitment to eliminating excessive constraints on financial institutions, which he believes have hampered the banking system. His approach aligns with priorities from the previous administration to foster innovation and ease regulatory requirements.

Public support for Gould’s confirmation came from numerous industry bodies, including the Blockchain Association and the Independent Community Bankers of America. Lindsey Johnson, CEO of the Consumer Bankers Association, noted, “Mr. Gould’s experience brings a balanced perspective, necessary for pragmatic banking regulation.” Additionally, Jonathan Gould himself stated, “If banks are to serve their role supporting the U.S. economy, they must be allowed to engage in prudent risk-taking… This blinkered approach to risk management has implications for the cost and availability of credit, the system’s ability to absorb shocks, and its adoption of new technologies and embrace of innovation.”

Market Reaction: Ethereum Price Surges Amid Gould’s Appointment

Did you know? Jonathan Gould’s confirmation resembles the tenure of Brian Brooks, leading to increased U.S. stablecoin adoption and greater bank engagement with cryptocurrencies, potentially affecting entities like Ethereum.

Based on CoinMarketCap data, Ethereum (ETH) recorded a price of $2,948.85, a 6.11% increase over 24 hours and a 13.88% rise over seven days. Its market cap stands at “$355.97 billion”, with a trading volume of “$31.82 billion”, reflecting a 17.44% increase. The price surged by 88.88% in 90 days.

The Coincu research team suggests Gould’s leadership may promote stronger alliances between U.S. banks and cryptocurrency initiatives, reflecting a pro-innovation stance. This approach might facilitate the integration of emerging technologies in traditional financial systems, reminiscent of previous deregulatory trends.