Rohit Chopra, head of the Consumer Financial Protection Bureau, signaled in an interview with American Banker yesterday that his agency may move on an enforcement action relating to cryptocurrencies at the same time that the Securities Exchange Commission is also looking at regulatory action concerning the sector. American Banker’s Kate Berry asked Chopra how concerned he was about “crypto,” stating that “You have complaints from consumers who say their money has been stolen.” Chopra replied, “Well, it’s interesting. Right now, cryptocurrencies are really primarily in the speculative trading markets. There is a question though about what happens when some of that is riding the rails of the Big Tech firms or…
Rohit Chopra, then a Commissioner at Federal Trade Commission, speaks at the World Economic Forum Annual Meeting in Davos-Klosters, Switzerland, January 23, 2020. (Photo: World Economic Forum / Valeriano Di Domenico)