Tag Archives: Digital Assets

WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu today offered remarks to the Financial Stability Board’s Crypto Working Group. In his remarks, Mr. Hsu shared his perspective on the importance of coordination and collaboration on the supervision of global institutions, particularly with regard to crypto-asset activities. He also discussed the relationship between crypto and tokenization. […]

WASHINGTON—Deputy Comptroller for Compliance Policy and Acting Deputy Comptroller for the Office of Financial Technology Donna Murphy today testified on the activities and initiatives of the Office of the Comptroller of the Currency’s (OCC) Office of Financial Technology before the Subcommittee on Digital Assets, Financial Technology and Inclusion, Committee on Financial Services of the U.S. […]

WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu today discussed the benefits and risks of tokenization and artificial intelligence (AI) in remarks at the American Bankers Association’s Risk and Compliance Conference in San Antonio. In his remarks, the Acting Comptroller discussed how risk and compliance can facilitate responsible innovation in AI and tokenization, and the […]

Federal bank regulatory agencies today issued a joint statement highlighting liquidity risks to banking organizations associated with certain sources of funding from crypto-asset-related entities and some effective practices to manage those risks. Recent events in the crypto-asset sector have underscored the potential heightened liquidity risks presented by certain sources of funding from crypto-asset-related entities. The […]

Federal bank regulatory agencies today issued a statement highlighting key risks for banking organizations associated with crypto-assets and the crypto-asset sector and describing the agencies’ approaches to supervision in this area. In particular, the statement describes several key risks associated with crypto-assets and the crypto-asset sector, as demonstrated by the significant volatility and vulnerabilities over […]

News Release 2022-126 | October 11, 2022 Share This Page: WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu today discussed cryptocurrency and the regulatory perimeter in remarks to the Harvard Law School and Program on International Financial Systems’ Roundtable on Institutional Investors and Crypto Assets. Mr. Hsu’s comments discussed the need to clarify supervisory expectations related […]

News Release 2022-125 | October 11, 2022 Share This Page: WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu today discussed the importance of identifying and monitoring crypto risks to protect consumers and the financial system in remarks at DC Fintech Week 2022. His comments included discussion of skeuomorphisms, commingling, and data gaps to help risk identification. […]

News Release 2022-123 | October 3, 2022 Share This Page: WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu today released the following statement in support of the Financial Stability Oversight Council’s (FSOC) Report on Digital Asset Financial Stability Risks and Regulation. I would like to start by thanking Secretary Yellen, the member agencies, and all the […]

News Release 2022-60 | May 24, 2022 Share This Page: WASHINGTON — Acting Comptroller of the Currency Michael J. Hsu today discussed vulnerabilities in the cryptocurrency framework and recent volatility with stablecoins in remarks at the DC Blockchain Summit 2022. In his remarks, the Acting Comptroller discussed the fragemented ecosystem of cryptocurrency, risk of contagion, and […]

News Release 2022-43 | April 27, 2022 Share This Page: WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu issued the following statement after his appearance today at the Artificial Intelligence and the Economy: Charting a Path for Responsible and Inclusive AI symposium hosted by the U.S. Department of Commerce, National Institute of Standards and Technology (NIST), […]