'We won't be able to know which players are trustworthy and which aren't until a credible third party ... can meaningfully oversee them,' bank regulator Michael Hsu said of crypto companies on Monday. jesseahamilton reports
Explore the policy fallout from the 2022 market crash, the advance of CBDCs and more.It may be difficult to trust a crypto company that isn't federally supervised, a key bank regulator said Monday.
“We won't be able to know which players are trustworthy and which aren't until a credible third party, like a consolidated home country supervisor, can meaningfully oversee them,” Hsu said in remarks prepared for delivery at an Institute of International Bankers event in Washington, D.C. “Currently, no crypto platforms are subject to consolidated supervision. Not one.”
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