Genius Act piles pressure on shrinking OCC, says Hsu
Risk Live North America: former agency head fears stablecoin vetting could “crowd out” other duties
The passage of the Genius Act for establishing federal rules for the issuance of stablecoins will pile more pressure on staff at the Office of the Comptroller of the Currency, which is in the process of cutting its workforce by almost a third, and now has to take on the job of approving charters for new coins.
“There’s a lot to do,” said Michael Hsu, who headed the OCC until February. “You’ve got
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