US OCC Labor Director: Expect to Lead Crypto Monitor Based on Financial Times 2008 Information

Golden Financial reports that OCC Secretary General Michael Hsu has said cryptocurrencies need more oversight. It seeks to develop a new "protection" against the financial crisis of 2008 and its consequences. Hsu said he sees the "importance" of the preemptive financial crisis in discussions of the crypto industry and other issues. As a result, he hopes to step in sooner than he did with management a year ago. Hsu said Washington faces a tough time on the cryptocurrency issue. During its direct listing on Coinbase, the bank asked the OCC how it received regulatory approval to meet its growing consumer demands for cryptocurrency. Hsu said it was "extremely important" to keep order in the joint venture, referring to Washington's crypto issues.