Michael Hsu on the resilience of the banking system during the crypto crash

The resilience of the traditional banking system to the recent events in crypto is not an accident.  Rather, it is due, at least in part, to federal bank regulators’ continued and intentional emphasis on safety and soundness and consumer protection.

~ Michael J. Hsu, Acting Comptroller of the Currency, "Crypto: A Call to Reset and Recalibrate," remarks at the DC Blockchain Summit 2022, December 7, 2022

Rep. Ritchie Torres on the SEC's failure to prevent the FTX collapse

If the SEC has the authority Mr. Gensler claims, why did he fail to uncover the largest crypto Ponzi scheme in US history?  One cannot have it both ways, asserting authority while avoiding accountability.

~ Rep. Ritchie Torres (D-NY), "Congressman Calls for Investigation Into Gensler, SEC’s Role in FTX Collapse," Yahoo!Finance, December 7, 2022

Jeffrey Tucker on the FTX scam to "play nice with regulators"

This has really introduced a complication in the culture of crypto because up to now it's been assumed that if you don't want to play ball with regulators you might be up to no good.  Now, we have every reason to think that the more willing you are to play ball with regulators, the more you might be trying to cover up what you're up to that's actually unsustainable or up to no good.

~ Jeffrey Tucker, "FTX cryptocurrency scandal is just the beginning," Will Cain Podcast, 18:15 mark, November 15, 2022