Brian Brooks, the pinnacle of the Workplace of the Comptroller of the Foreign money, stated regulators usually are not seeking to “kill” Bitcoin (BTC) however as a substitute guarantee its clean integration into the monetary system. 

In an interview with CNBC’s Squawk Field on Friday, Brooks said:

“We’re very targeted on getting this proper. We’re very targeted on not killing this, and it’s equally necessary that we develop the networks behind Bitcoin and different cryptos as it’s that we forestall cash laundering and terrorism financing.”

The Workplace of the Comptroller of the Foreign money is the bureau of the Treasury Division that supervises federal banks.

Brooks’ remark was in response to a query about whether or not the administration of Donald Trump was planning to roll out probably damaging cryptocurrency rules earlier than the top of its time period. Brian Armstrong, CEO of Coinbase, brought attention to this challenge final month in a sequence of tweets explaining why stringent rules concentrating on self-hosted crypto wallets could be a nasty thought.

When requested about whether or not we are able to anticipate new rules by the top of President Trump’s time period, Brooks stated:

“I feel you’re going to see a whole lot of excellent news for crypto by the top of the Trump time period. A few of it will should do with banks connecting to blockchains, a few of it will be extra readability across the nature of those property.”

Whereas acknowledging that it’s a “harmful world on the market,” Brooks stated:

“No one’s going to ban Bitcoin. No one’s going to ban a few of these transmission applied sciences.”