Acting Comptroller Warns Retail Investors of Crypto Risks
Acting Comptroller Michael J. Hsu encouraged investors to learn about responsible money management given the recent volatility in crypto markets.
In remarks at the Financial Literacy and Education Commission's Public Meeting, Mr. Hsu warned investors that pressure from the online community to make irrational investment decisions have contributed to the losses incurred by crypto investors. Mr. Hsu urged investors to take a step back from social media to evaluate whether to continue investing in crypto assets.
Mr. Hsu also said that despite high levels of volatility in digital asset markets, banks have remained relatively stable, and he urged banks to continue to exercise caution.
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