One of crypto's most prominent detractors is now throwing stones at the heads of several financial agencies.
California Representative Brad Sherman, who repeatedly called for a ban on U.S. residents buying crypto, accused leaders at several financial agencies of parroting former FTX CEO Sam Bankman-Fried’s ideas on regulating digital assets.his remarks to Federal Reserve vice chair of supervision Michael Barr, Federal Deposit Insurance Corporation acting chair Martin Gruenberg, National Credit Union Administration chair Todd Harper, and acting Comptroller of the Currency Michael Hsu. The U.S.
“The crypto billionaire bros are determined to get a light regulator,” said Sherman. “I’m distressed by what I’ve heard from you, gentlemen: guardrails, safe and sound ways to deal with crypto…. you sound like Sam Bankman-Fried, only you’re wearing long pants instead of shorts. What vague pablum.”According to Barr, the collapse of FTX had “some impact” on the banking sector, calling for Congress to step in and provide regulatory clarity.
on Banking Supervision proposing “tough, real standards” for banks to handle crypto assets. Barr, Gruenberg, Harper, and Hsu said they would support regulations of comparable strength in the United States.
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