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September 23, 2024

CONTACT: Michael Pearlman, Communications Director

[email protected]

 

*Wyoming Stable Token Commission Names Debra C. Brookes as Chief Risk & Compliance Officer*

 

CHEYENNE, Wyo. – The Wyoming Stable Token Commission has announced the hire of Debra C. Brookes as Chief Risk & Compliance Officer (CRCO). Ms. Brookes joins the Commission following an impressive tenure at the New York Department of Financial Services (NYDFS), where she served as Deputy Virtual Currency Chief & Head of Supervision and led critical regulatory initiatives in the evolving digital asset space.

In her role at NYDFS, Ms. Brookes demonstrated exemplary leadership, supervising over 30 virtual currency licensees with assets under management exceeding US$1 billion. She spearheaded the development of comprehensive risk management programs that addressed the unique challenges of digital assets. As part of her oversight, Ms. Brookes also constructed compliance frameworks for blockchain analytics and stablecoins, working cross-functionally with legal, financial, and operational bodies to ensure alignment with agency goals and regulatory mandates.

As CRCO, Ms. Brookes will be responsible for developing and enforcing risk and compliance protocols, aligning the Commission and the Wyoming Stable Token with applicable regulations while mitigating potential risks. Her experience at NYDFS, where she built and streamlined internal supervision policies, will be instrumental in helping the Commission launch the first fiat-backed, fully-reserved stable token issued by a state.

“In keeping with Wyoming's conservative and considered approach to developing the Wyoming Stable Token, it is exciting to welcome Debra Brookes to our team. Her proven track record of developing and implementing regulatory frameworks, combined with her collaboration skills, makes her the ideal leader to oversee our risk and compliance functions,” said Governor Mark Gordon, who serves as Chairman of the Wyoming Stable Token Commission. “She has shown the ability to navigate the complexities of digital assets and an evolving regulatory environment that will be crucial as we fortify Wyoming's position as a leader in this emerging industry.”

Ms. Brookes’ notable accomplishments also include leading a capitalization working group comprised of virtual currency licensees, advising NYDFS leadership on regulatory oversight of decentralized finance applications and non-fungible tokens, and coordinating with other state and federal regulators to address cross-jurisdictional frameworks.

“I am honored to join the Wyoming Stable Token Commission at such a pivotal time for the digital asset industry,” said Ms. Brookes. “I look forward to working with the Commission to build a best-in-class compliance and risk management program that supports innovation while protecting the state’s reputation.”

The Wyoming Stable Token Commission is excited to welcome Ms. Brookes and looks forward to her contributions as they continue to pioneer stablecoin initiatives in the state.

*For more information, please contact:*

Anthony J. Apollo

Executive Director, Wyoming Stable Token Commission

Email: [email protected]

Phone: +1-307-275-5556

[link removed]

*About the Wyoming Stable Token Commission*

The Wyoming Stable Token Commission was established with passage of Senate Enrolled Act 85 - Wyoming Stable Token Act [ [link removed] ], which authorizes the Wyoming Stable Token Commission to issue Wyoming stable tokens. As allowed under the enacting legislation, the Commission includes the Governor or the Governor's designee; the Auditor or the Auditor's designee; the Treasurer or the Treasurer's designee; and four additional subject matter experts: Flavia Naves, David Pope, Jeff Wallace, and Joel Revill. Anthony Apollo currently serves as the Executive Director of the Commission. [ [link removed] ]

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