Scott Bessent, the newly-appointed head of the Consumer Financial Protection Bureau (CFPB), has halted litigation, investigations, and enforcement proceedings at the agency. This switch-up is viewed as positive for the cryptocurrency industry, as the CFPB had recently proposed expanding its oversight to include cryptocurrencies. The rule is unlikely to be finalized, but its existence could impact pending litigation. It is unclear how long Bessent will hold the acting role or when a permanent head will be appointed.



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