This website uses cookies. By using this website, you agree to our Cookie Policy.
Acting Comptroller Hsu Compares FTX to BCCI Rather than Other Failures
March 9, 2023This week, Acting Comptroller of the Currency Michael Hsu delivered remarks, titled “Trust and Global Banking: Lessons for Crypto,” at the Institute of International Bankers’ (“IIB”) Annual Washington Conference in which he discussed the lack of consolidated supervision and coordination among regulators as part of the problem with the failure of crypto exchange FTX. He also offered lessons that can be learned from how bank supervision responded to the failure of the Bank of Credit and Commerce International (“BCCI”) 30 years ago.
