The OCC’s acting head, Michael Hsu, argues that crypto firms should be subject to a 'home' regulator to keep them in line, no matter where their entities are based.
Hsu said the “fragmented supervision” of both firms meant no one authority or auditor could develop a “consolidated and holistic view” of them as they operated across countries with no framework for information sharing between authorities.
In his reasoning for advocating such oversight, Hsu expressed that arguments in the Bitcoin whitepaper were “elegant” but crypto “has proven to be extraordinarily messy and complex.”
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