The Legend of the Crypto Kid
Although Acting Comptroller Brooks’ tenure was never boring, he went out with a bang. Finishing with a controversial charter approval and a sweeping interpretation, Mr. Brooks has really left a mark on the future of digital currency. Indeed, as he left, he said that fiat currency will soon be a “thing of the past.” But, for all of digital currency’s explosive power, none of it has yet come close to being money; until someone figures out how to do that, fiat currency is here to stay. In fact, Mr. Brooks knows this – after all, what are stablecoins if not just a fiat-currency arbitrage play?
