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Acting CoC Hsu: More crypto regulation is needed
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In remarks given at the American Fintech Council’s 2021 Policy Summit, acting Comptroller of the Currency Michael J Hsu called for greater regulation of universal crypto firms.
The Office of the Comptroller of the Currency is responsible for regulatory oversight of federally chartered banks operating within the United States. Hsu further declared:
Glass-Steagall was a 1933 federal law that walled off investment and commercial banking, and was repealed in 1999. Hsu finally cautioned, “In the cryptocurrency space, the rapid growth in users and total market value has only been matched by the growth in scams and consumer complaints. 'Move fast and break things' is a common mantra in tech. In the financial services context, it is important to
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