Brian Brooks, the Acting Comptroller of the US currency, recently interviewed with CNN and had nothing but positive things to say about crypto custody, blockchain, and cryptocurrency in general. Brook stated that his job now would be to identify obstructions that make it difficult for people to get what they want, concerning the crypto world.
Brooks, who was previously a Chief Legal Officer at Coinbase, said that he had given the green light for banks to start providing crypto services. His long-term vision for the future would be a Central Bank Digital Currency(CBDC) issued by private companies. Still, it will be backed by bank deposits.
It was indeed a breath of fresh air when he covered some critical issues like a need for faster payment solutions and described the traditional financial institution as “19th Century Banking Rails.” He further adds that his favored solution would be creating faster payment portals that would allow Americans to make lighting quick transaction that will be innovated by private companies, and supervised by the federal surveillance.