The U.S Consumer Financial Protection Bureau (CFPB) is looking to increase their oversight of the crypto industry. They recently submitted a proposal to Congress seeking control over entities that facilitate consumer payments. This includes providing access to money transmitters who accept and transmit digital assets, such as cryptocurrency, as well as financial records, chat logs and other books. It is hoped that this would give the CFBP more control over the industry. The proposal has been met with some criticism as it could add complexity, with the SEC and CFTC already being involved in the regulatory landscape. Nevertheless, the CFPB is continuing its efforts to gain more control over the crypto industry.



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