Acting OCC Head Michael Hsu is doubling down on the bank regulator's careful approach to crypto, though he says he sees potential in crypto.
May 24, 2022, 6:13PM EDT · 2 min readActing Comptroller of the Currency Michael Hsu is doubling down on the bank regulator's"careful and cautious" approach to crypto in the wake of the TerraUSD collapse, though he says he's come to see the potential in crypto.
"The resilience of the traditional banking system to the recent events in crypto is not an accident," he said."Rather, it is due, at least in part, to federal bank regulators’ continued and intentionalinterpretive letter "I believe that these reminders have contributed to the safety and soundness of the banking system despite the heightened volatility and recent turmoil in the crypto markets," said Hsu.
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