michael hsu – DIGIT INFO

Senator Warren Slams Citibank’s Ongoing Failures — Suggests Breaking up Citi

DIGIT — Sat, 05 Oct 2024 03:30:01 +0000

Senator Elizabeth Warren has called for bold action from regulators, urging the acting head of the Office of the Comptroller of the Currency (OCC) to address Citibank’s persistent operational failures. Warren stated that Citibank may be “too-big-to-manage,” citing years of regulatory missteps and mishandled reforms, despite ongoing penalties. The letter suggests that breaking up the […]

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US Banking Regulator Calls for Stronger Oversight of Crypto Risks

DIGIT — Thu, 05 Sep 2024 05:30:52 +0000

Acting Comptroller Michael Hsu has emphasized the importance of proactive oversight in managing crypto risks. He cited the 2022 crypto market collapse, with a $2 trillion loss, where effective supervision kept banks stable. Hsu emphasized the need for vigilant supervision as digital assets and fintech increasingly integrate with traditional banking, presenting new challenges and risks. […]

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‘Home’ regulator could solve crypto’s ‘fragmented supervision’ issue: Comptroller

DIGIT — Tue, 07 Mar 2023 03:44:27 +0000

During a speech at a banking conference in DC, acting comptroller Michael Hsu said FTX was an example of why a “consolidated home country supervisor” is needed.

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US lawmakers argue SEC accounting policy places crypto customers at risk

DIGIT — Fri, 03 Mar 2023 05:56:35 +0000

While the bulletin was intended to provide clarity regarding the accounting treatment for digital assets, it has been criticized by both lawmakers and regulators.

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OCC’s Hsu says regulators are ‘spending too much time’ on crypto: Reuters

DIGIT — Fri, 14 Oct 2022 03:36:08 +0000

Michael Hsu stated that it is starting to worry him that “we’re not spending that time and attention on some other things,” like fintech, which he described as the “future.”

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Acting OCC comptroller calls for standards on stablecoins

DIGIT — Wed, 27 Apr 2022 19:00:00 +0000

According to Michael Hsu, representatives from the crypto industry as well as within the U.S. government could work toward setting standards on stablecoins.

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Acting OCC head warns that ‘fools gold’ in DeFi reminds him of lead-up to GFC

DIGIT — Fri, 24 Sep 2021 04:20:41 +0000

While crypto has been mostly weathered past hacks, scams, and crashes, acting OCC head Michael Hsu warns the risks may be multiplying as the technology goes mainstream.

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US regulators must collaborate on ‘regulatory perimeter’ for crypto: OCC head

DIGIT — Mon, 31 May 2021 06:29:45 +0000

Acting OCC head, Michael Hsu, wants greater inter-agency cooperation in establishing regulatory guidelines for the crypto sector.

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Top US Banking Regulator to Review Cryptocurrency Standards Under New Leadership

DIGIT — Thu, 20 May 2021 15:03:41 +0000

The new Acting Comptroller of the Currency, Michael Hsu, has requested a review of the cryptocurrency standards established by the top U.S. banking regulator. He is also urged to “reassess any conditional national trust charters and halt the approval of any additional charters to nonbank entities” during the review. Top Banking Regulator Reviewing Crypto Policy […]

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