News on November 6, at the 2021 Policy Summit of the US Financial Technology Council.
The acting auditor of the currency, Michael J. Hsu, called for strengthening the supervision of General Crypto. “Large, general-purpose encryption company.
In particular, issuers of high-circulation stablecoins should accept comprehensive and unified supervision. At the same time, federal and state banking supervisory agencies should give priority to formulating policies and supervisory methods. Bring the safety of such companies into the scope of bank supervision.
This will clearly distinguish secure and reliable encryption companies from those that are only partially regulated. Companies with a history of control failures. Such as Binance and Tether. “The Office of The Comptroller of The Currency is responsible for overseeing federally chartered banks operating in the United States.