Senate Appoints New Executive to Lead OCC Banking Regulator

The US Senate has confirmed Jonathan Gould as the new head of the Office of the Comptroller of the Currency (OCC), marking a significant shift in federal banking oversight.

The 50-45 Senate vote on Thursday places a crypto industry veteran in charge of one of America’s most powerful financial regulators.

Confirmed, 50-45: Confirmation of Executive Calendar #64 Jonathan Gould to be Comptroller of the Currency for a term of five years.

— Senate Cloakroom (@SenateCloakroom) July 10, 2025

Gould brings extensive experience from both traditional finance and digital assets. He previously served as the OCC’s senior deputy comptroller and chief counsel from 2018 to 2021, giving him deep knowledge of the agency’s operations.

His background also includes a role as chief legal officer at Bitfury, a major blockchain infrastructure company, and he currently works as a partner at Cleveland-based law firm Jones Day.

What This Means for Banking and Crypto Regulation

The confirmation signals President Trump’s commitment to installing crypto-friendly leaders across key regulatory agencies.

Gould joins Paul Atkins, who was recently confirmed to head the SEC (Securities and Exchange Commission), in a wave of appointments that could reshape how federal agencies approach digital assets.

This leadership change comes at a critical time for the banking sector. Traditional banks have struggled with unclear crypto guidance from federal regulators. Gould’s dual experience in conventional banking regulation and blockchain technology positions him to potentially bridge this gap.

The OCC oversees approximately 1,200 national banks and federal savings associations, controlling about two-thirds of US banking assets. Under previous leadership, the agency took a cautious approach to crypto banking services, often creating uncertainty for financial institutions seeking to offer digital asset products.

Expected Policy Shifts Under New Leadership

Industry experts anticipate Gould may implement clearer guidelines for banks wanting to custody cryptocurrencies or offer crypto-related services to customers. His Bitfury background suggests familiarity with the technical challenges banks face when integrating blockchain technology.

The confirmation also aligns with broader congressional efforts to establish comprehensive crypto market structure legislation. Senate lawmakers have set a September 30 deadline to draft and vote on digital asset framework bills, while House Republicans plan to advance their Digital Asset Market Clarity Act.

Gould’s five-year term begins as acting OCC head Rodney Hood prepares to step down, completing Trump’s regulatory reshuffling across major financial oversight agencies.