The CFPB has launched a fintech regulatory sandbox which will help fintech companies and firms develop and test new products and services, including blockchain and cryptocurrencies.
Today’s Blockchain & Cryptocurrency Daily Clips highlight:
“In an official announcement, the bureau said that the innovation office has been established to focus on encouraging consumer-friendly innovation. It will focus on creating policies to facilitate innovation, engaging with entrepreneurs and regulators, and reviewing outdated or unnecessary regulations. In an interview, Mulvaney said that he expects the innovation office to look closely at emerging financial technologies, including blockchain and cryptocurrencies.”
Paul Watkins, the new lead of the Bureau’s newly-created Office of Innovation, has been selected to lead and manage the new fintech regulatory sandbox.
CFPB’s Press Release: Bureau of Consumer Financial Protection Announces Director for the Office of Innovation
The above article is featured in the Blockchain & Cryptocurrency Daily Clips provided by Michael Best Strategies professionals. For more current news on this rapidly changing industry, and to subscribe to the Daily Clips, click here.