‘Too Much’ Innovation Is Dangerous With Stablecoins: OCC Chief Hsu

‘Too Much’ Innovation Is Dangerous With Stablecoins: OCC Chief Hsu
The cryptocurrency industry thrives on constant, ever-evolving innovation. But when it comes to stablecoin development, “that is not what you want,” according to Acting Comptroller of the Currency Michael Hsu.In an interview with CoinDesk TV Monday, Hsu, who is the administrator of the U.S. federal banking system and CEO of the Office of the Comptroller of the Currency (OCC), argued that when dealing with people’s money, having too many innovators in the field poses risks.“You want your money to be stable and reliable, you want it to be there in good times and bad times and not have to think…