The new Acting Comptroller of the Currency, Michael Hsu, has requested a review of the cryptocurrency standards established by the top U.S. banking regulator. He is also urged to “reassess any conditional national trust charters and halt the approval of any additional charters to nonbank entities” during the review. Top Banking Regulator Reviewing Crypto Policy Michael Hsu, the new administrator of the federal banking system and chief executive officer of the Office of the Comptroller of the Currency (OCC) has requested a review of the regulator standards for cryptocurrencies. Hsu took office on May 10. The OCC is an independent bureau of the U.S. Department of the Treasury. It charters, regulates, and supervises all national banks and federal savings associations as well as federal branches and agencies of foreign banks. Hsu revealed his plans for cryptocurrency before the Committee on Financial Services Wednesday. “At the OCC, the focus has been on encouraging responsible innova
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