US Senator: The Consumer Financial Protection Agency can play an important role in regulating cryptocurrency

On October 29, U.S. Senator Elizabeth Warren told Bloomberg on Thursday that the Consumer Financial Protection Bureau (CFPB) could play a key role in regulating cryptocurrencies. He said: CFPB pays clients a lot of money and should be in charge. Penetration of the crypto industry extends the rights of many governing bodies. Instead of waiting for other organizations to take action, organizations should choose their own tools to tackle market crime. Warren said Americans who use digital currency face fraud and other risks, including the inability to withdraw money from cryptocurrency exchanges. CFPB Chairman Rohit Chopra said Thursday at the Senate Finance Committee meeting that tech companies like Facebook should be more vigilant in their use of digital assets. (Bloomberg)