Acting OCC head calls for consolidated supervision for crypto firms

Michael Hsu, the acting head of the United States Office of the Comptroller of the Currency, hopes to address gaps in supervision for companies dealing with cryptocurrencies.

In published comments before the Federal Reserve Bank of Philadelphia on Tuesday, Hsu called for consolidated supervision for crypto firms in which regulators or an authorized group could conduct oversight of a company and its subsidiaries to mitigate risk. According to Hsu, the current landscape allows holding companies engaging in crypto activities to potentially avoid regulations through subsidiaries.

Continue Reading on Coin Telegraph

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.