2018-7-19 21:57 |
The Consumer Financial Protection Bureau is launching a regulatory sandbox to encourage blockchain and other financial technology innovation, acting head Mick Mulvaney announced Wednesday.
Mulvaney told the newspaper that the new office spearheading the initiative will specifically examine cryptocurrencies, blockchain-based platforms, other private currencies and individual “microlending.”
He continued:
“You can make a strong argument … that new technology actually offers new and innovative ways to protect consumers.
The new office will notably be led by Paul Watkins, who previously assisted in helping Arizona launch its own state-level regulatory sandbox for blockchain and cryptocurrency technologies, according to the WSJ.
This is not the first time Mulvaney has supported blockchain technology.
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