Crypto firms are dodging scrutiny, US comptroller warns

Hsu compares crypto exchange FTX to BCCI, subject of infamous ’90s banking scandal

Office of the Comptroller of the Currency
The seal of the Office of the Comptroller of the Currency

Cryptocurrency firms appear to be deliberately seeking to evade regulation, copying the tactics of a notoriously corrupt bank, a senior US banking regulator warned.

Michael Hsu, acting head of the Office of Comptroller of the Currency, said crypto firms needed supervisors capable of overseeing all of their operations, foreign and domestic. He called for collaboration between national regulators to prevent more crises like the collapse of the crypto exchange FTX.

“Currently, no crypto platforms

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