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The Financial Protection Agency has a role in cryptocurrency

October 29, 2021
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According to news on October 29, US Senator Elizabeth Warren (Elizabeth Warren) accepted in an interview with Bloomberg on Thursday: The Consumer Financial Protection Bureau (CFPB) can play a key role in cryptocurrency regulation.

She said: CFPB pays great attention to the consumer sector and should play a regulatory role. The penetration of the crypto market has spanned. The jurisdiction of different regulatory agencies.

Institutions should not wait for other institutions to take action. Instead, each institution should pick up its own available tools to combat illegal behavior in the market. Warren said that Americans who use digital currencies face increasing fraud and other risks, including the inability to withdraw funds from crypto exchanges.

CFPB Director Rohit Chopra said at a hearing held by the Senate Banking Committee on Thursday. The agency will pay close attention to how technology giants such as Facebook plan to use digital currencies.

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