The future of finance is here, and it's changing the game for bank supervision. 🏦🚀
As fintech and digital assets continue to grow, the risks they pose to the banking system become more complex. Acting Comptroller Michael Hsu highlights the importance of proactive oversight to ensure the stability of our financial institutions.
Key takeaways
The 2022 crypto market collapse, with a $2 trillion loss, underscores the need for vigilant supervision.
The increasing integration of digital assets and fintech with traditional banking presents new challenges and risks.
A risk-based supervisory approach is essential to adapt to the evolving financial landscape.
What do you think about the challenges facing bank supervision in the digital age? Share your thoughts in the comments below.