Skip to content
Crypto
Regulation

US Bank Regulator Says ‘Immature’ Crypto Industry Full of Conflicts and Risks

  • OCC head concerned about data gaps, investor confusion
  • Michael Hsu wants more ‘accurate and complete’ view of risks
Michael Hsu, acting director of the Office of the Comptroller of the Currency
Michael Hsu, acting director of the Office of the Comptroller of the CurrencyPhotographer: Ting Shen/Bloomberg

A top Wall Street bank watchdog said the crypto industry has a long way to go in winning over regulators. 

“Crypto today is an immature industry based on an immature technology,” Acting Comptroller of the Currency Michael Hsu said on Tuesday. He added that the comment wasn’t meant to be disparaging, but that the industry still needs to deal with “the unabating volume of scams, hacks, and fraud.”