Acting CoC Michael Hsu: Crypto is ‘immature,’ but maybe it doesn’t have to go away

by Repost Admin October 12, 2022, 9:43 pm 1.9k Views

The acting U.S. official added nuance to his well known skepticism about the crypto industry, but warns against accommodation, in speeches on risk and regulation.

United States acting controller of the currency Michael Hsu acknowledged his skepticism about cryptocurrency and clarified his position on regulation in two thematically linked lectures October 11. “While I am skeptical of crypto’s real world utility today and hyper-aware of the risks it poses to consumers and the financial system, I cannot say with certainty that crypto is useless and should go away,” he said.

Hsu began the day at DC FinTech Week, where he talked about identifying risk. One of the risk “lenses” he