US Bank Watchdog Says He’s Not Budging on Crypto Distrust

Recent events have reinforced that position, he said Wednesday at a Clearing House and Bank Policy Institute conference – one of the largest annual events to discuss banking policy. Hsu cited the collapse of Terra and the LUNA token in May, which he said “sparked contagion across cryptocurrencies, resulting in several crypto platforms failing, forcing numerous exchanges to close, and driving large losses and reductions of staff at a number of publicly traded companies.”