Michael Hsu is the Acting Head at the United States Office of the Comptroller of the Currency. He stated that stablecoins require standards similar to the early internet.

Hsu gave a written statement after his attendance at the Artificial Intelligence and the Economy in Washington D.C. stablecoins lacked “shared standards,” were “interoperable,” and needed standards similar to those set by the Internet Engineering Task Force and World Wide Web Consortium. According to the OCC head, representatives from the crypto industry as well as within the U.S. government — including the OCC and National Institute of Standards and Technology — could work toward such goals.