Acting Director of the Office of the Comptroller of Currency: There will be good news about encryption (www.blockcast.cc)

Brian Brooks, Acting Administrator of the Office of the Comptroller of the Currency and former Chief Legal Officer of the Coinbase Exchange, said that there will be good news for the crypto industry before the end of the term of the current US President Trump.

Encryption He accepted an interview on CNBC’s Squawk Box column on Friday. He also stated that the regulator currently has no plans to ban Bitcoin, which to some extent refutes the recent rumors that the US Treasury Department plans to introduce some new encryption regulations. .

Squawk Box host Melissa Lee mentioned in the interview that Coinbase CEO Brian Armstrong recently posted a tweet. Armstrong said that the US Treasury Department plans to introduce some new regulations on self-custodial crypto wallets. In response, Brooks did not explicitly refute this statement. He pointed out that the regulator wanted to “do this thing well.”

He explained, “We are very concerned about how to do it well. Our focus is not to eliminate Bitcoin and other encryption technologies. It is important to develop the network behind Bitcoin and other encryption technologies, because we can prevent money laundering and terrorism. Financing.”

Brooks also added, “There will be a balance, which is good for everyone.” When asked directly whether there will be any new regulations before Trump’s term ends, Brooks hinted, “You will see a lot Good news about encryption.”

He said, “So trust me, there will be a very positive message. No one will ban Bitcoin.”

According to a previous report by “Betwee”, billionaire and founder of hedge fund company Bridgewater, Ray Dalio believes that the government will ban Bitcoin when Bitcoin reaches its full potential.

He mentioned, “If Bitcoin becomes important, the government will not allow it to exist. I mean, they will declare it illegal and they will do what they can to enforce it. They will say,’Okay. , You can’t trade Bitcoin. You can’t own Bitcoin. “They declared gold illegal. What’s wrong with gold? Gold is a tool for storing wealth.”