USA Regulators Will Form a Research Group to Explore Digital Finance
The U.S. financial regulators are thinking about creating a research group that will study the crypto industry. This was vocalized during the hearing of the House Committee on Financial Services.
The group will work on strategies to regulate the industry in the country effectively. It may include the representatives of the Treasury department, FRS and FDIC. Michael Hsu, the acting head of OCC, has already discussed this with the heads of the departments. Back earlier, he insisted that the rules of regulating cryptocurrency need revision.
Hsu agrees that the growth of cryptocurrencies attracted everyone’s attention to the digital finance field. Randal Quarles, the vice president of FRS, hopes that together they finally figure out the official status of the cryptocurrencies in the USA.