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Policy

U.S. Banking Watchdog: You Can’t Trust Crypto Firms Until They Get Federal Oversight

The chief of the Office of the Comptroller of the Currency equated the FTX collapse with a well-known 1990s bank failure in arguing for consolidated industry regulators.

By Jesse Hamilton

Mar 6, 2023 at 8:10 p.m. UTC

Mar 6, 2023

regulationsMichael HsuOCCUS

(Lusky/Getty Images, modified by CoinDesk)

Podcasts

The breakdown

Python Politics Part 2: Operation Choke Point 2.0 Begins

A recent history of the Office of the Comptroller of the Currency and the weaponization of the banking system against crypto.

By Nathaniel Whittemore

Feb 10, 2023 at 9:33 p.m. UTC

Feb 10, 2023

The BreakdownPodcastsBankingOffice of the Comptroller of the CurrencyMichael Hsu

(OsakaWayne Studios/Getty Images, modified by CoinDesk)

Podcasts

The breakdown

Are Regulators Spending Too Much Time on Crypto?

That’s the argument of acting Comptroller of the Currency Michael Hsu.

By Nathaniel Whittemore

Oct 14, 2022 at 7:57 p.m. UTC

Oct 14, 2022

The BreakdownPodcastsMichael HsuRegulators

CDCROP: Acting Comptroller of the Currency Michael Hsu testify during a hearing before Senate Banking, Housing and Urban Affairs Committee at Dirksen Senate Office Building August 3, 2021 on Capitol Hill in Washington, DC (Alex Wong/Getty Images)

Policy

Occ

OCC Comptroller: Crypto Companies ‘Don’t Know What They Want to Be When They Grow Up’

Michael Hsu joined “First Mover” to discuss why crypto companies need to provide more clarity on what they offer and be in less of a rush to expand without a “strong foundation.”

By Fran Velasquez

Oct 13, 2022 at 7:08 p.m. UTC

Oct 13, 2022

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Democratic Presidential Candidates Participate In Presidential Primary Debate In Des Moines, Iowa

Policy

Regulations

US Senators Warren, Sanders Ask Key Bank Regulator to Rescind Crypto Guidance

The lawmakers also asked a series of questions about how many banks are currently involved in crypto.

By Nikhilesh De

Aug 10, 2022 at 5:19 p.m. UTC

Aug 10, 2022

regulationsOCCMichael HsuElizabeth WarrenBernie SandersBanking Regulation

Policy

Regulations

OCC Chief Hsu: Crypto Industry Has Unhealthy ‘Dependency on Hype’

The acting head of the U.S. Office of the Comptroller of the Currency has worked to limit banks’ involvement in cryptocurrencies.

By Jesse Hamilton

May 24, 2022 at 9:15 p.m. UTC

May 24, 2022

regulationsOCCMichael HsuStablecoins

Policy

Regulations

Wall Street Watchdog Cautions Banks on Trading Crypto Derivatives

OCC Acting Comptroller Michael Hsu said he's working with global regulators to find "a consistent, careful and cautious approach to bank involvement in crypto."

By Jesse Hamilton

Mar 31, 2022 at 8:41 p.m. UTC

Mar 31, 2022

regulationsMichael HsuOCCGoldman SachsbanksDerivatives