OCC’s Hsu Says Crypto Education Urgently Needed

Acting Comptroller of the Currency Michael Hsu told the Financial Literacy and Education Commission that there is “an urgent need for improved crypto literacy and education.” Hsu urged the commission to add neutral, trusted educational materials to MyMoney.gov—a resource for consumers and consumer groups—to educate the public about crypto in an unbiased way.

He added there is difficulty in finding neutral sources of information on crypto and that marketing materials and misinformation dominate. “It’s nearly impossible to find neutral information about something as simple as fees,” said Hsu, adding that “consumers are left with an information landscape dominated by a lot of hype, jargon, attractive yields, and only boilerplate disclaimers about the risks they could face.”