Brian Brooks, a former acting observer at the US Currency Control Board, will become the new CEO of Binance, the largest cryptocurrency exchange in the US.

According to an announcement on Tuesday, Brooks will replace current Binance CEO Katherine Cooley from May 1, 2021.

Former head of Coinbase’s legal team, Brooks has become a leading figure in the crypto industry through his ongoing efforts to bring clarity to cryptocurrency regulation. Brooks is referred to in the community as the “Senior Financial Technology Comptroller” and the “Cryptocurrency Observer”, and from May 2020 to January 2021, he served as the acting currency overseer.

Changpeng Zhao, CEO and Founder of Binance, said Brooks’ expertise and knowledge is invaluable as Binance US continues to expand. Brian is a respected leader with a unique blend of expertise in traditional financial services, government, and the digital asset industry. He said that Binance USA’s ability to attract a leader of Brian’s caliber is a testament to the platform’s strength.

In an interview with The Wall Street Journal, Brooks said his priorities at Binance US will include making the stock market a strong competitor to Coinbase, as well as strengthening its adherence to rules.

“We are in the process of introducing common blockchain technology and digital tokens by individuals, corporations and governments alike. I am interested in working closely with industry players and decision makers to develop a permanent set of rules that will enable Americans to reap the benefits of decentralized finance for future generations, ”Brooks said.

Binance launched its US subsidiary in September 2019. The San Francisco headquarters spun off the exchange as a separate company from Binance Global Exchange, while both were founded by Zhao.