Senator Warren Slams Citibank’s Ongoing Failures — Suggests Breaking up Citi
Senator Elizabeth Warren has called for bold action from regulators, urging the acting head of the Office of the Comptroller of the Currency (OCC) to address Citibank’s persistent operational failures. Warren stated that Citibank may be “too-big-to-manage,” citing years of regulatory missteps and mishandled reforms, despite ongoing penalties. The letter suggests that breaking up the […]
US Banking Regulator Calls for Stronger Oversight of Crypto Risks
Acting Comptroller Michael Hsu has emphasized the importance of proactive oversight in managing crypto risks. He cited the 2022 crypto market collapse, with a $2 trillion loss, where effective supervision kept banks stable. Hsu emphasized the need for vigilant supervision as digital assets and fintech increasingly integrate with traditional banking, presenting new challenges and risks. […]
US Banking Regulator Calls for Stronger Oversight of Crypto Risks
Acting Comptroller Michael Hsu has emphasized the importance of proactive oversight in managing crypto risks. He cited the 2022 crypto market collapse, with a $2 trillion loss, where effective supervision kept banks stable. Hsu emphasized the need for vigilant supervision as digital assets and fintech increasingly integrate with traditional banking, presenting new challenges and risks. […]
‘Home’ regulator could solve crypto’s ‘fragmented supervision’ issue: Comptroller
During a speech at a banking conference in DC, acting comptroller Michael Hsu cited FTX an example of why a “consolidated home country supervisor” is needed.This post was originally published on this site
U.S. lawmakers argue SEC accounting policy places crypto customers at risk
While the bulletin was intended to provide clarity regarding the accounting treatment for digital assets, it has been criticized by both lawmakers and regulators.This post was originally published on this site
Regulators are ‘spending too much time’ on crypto: Comptroller
Michael Hsu stated that it is starting to worry him that “we’re not spending that time and attention on some other things,” like fintech, which he described as the “future.” This post was originally published on this site