OCC’s New President Will Be More Careful About Cryptocurrency
May 18, 2021
The new head of the Currency Supervision Office (OCC) said he will review the crypto-related guidance he published last year.
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The new supervisor, Michael Hsu, said in a statement that the federal bank regulator has requested a review of all pending issues, including issues with digital assets and cryptocurrencies. Much of OCC’s crypto guide was published under the auspices of former Financial Affairs Officer Brian Brooks.
Hsu will speak before the House of Representatives Financial Services Committee at a hearing on Wednesday, where all US federal bank regulators will speak.
Hsu stated that banks are very committed to keeping them safe for consumers.