, both now in bankruptcy court, as examples of the “foundational issues” the crypto industry needs to address.He added that because of this “unclarity,” regulators cannot be expected to set clear crypto oversight guidelines. The industry must lay out how the products being offered, such as custody accounts, are operating.
Hsu is concerned about the expansion plans of many in the crypto sector."If you don't have strong foundations, it doesn't matter what your charter [is] ... [the company is] not going to scale sustainably. And I know that's a goal. If you want something to scale, play the long game. You [have] got to have some strong foundations."
As for his federal banking agency, he is open to discussions on “controlled and disciplined” ways of enabling growth for crypto companies. “If there's ways to control and limit the manner in which growth takes place, we're all ears. What we are allergic to is, ‘Give me a license and let me do whatever I want.’ That's not something that's safe and sound,” Hsu said.
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USOCC _franvela Why you not talking about this!