On March 9, 2022, CFPB Director Rohit Chopra released a statement on President Biden’s Executive Order, Ensuring Responsible Development of Digital Assets. The EO outlines the whole-of-government strategy to protect consumers, financial stability, national security, and address climate risks.
From Director Chopra’s statement:
“Today’s Executive Order recognizes that the dramatic growth in digital asset markets has created profound implications for financial stability, consumer protection, national security, and energy demand. The Consumer Financial Protection Bureau is committed to working to promote competition and innovation, while also reducing the risks that digital assets could pose to our safety and security. We must make sure Americans in all financial markets are protected against errors, theft, or fraud.”
Read the CFPB’s full release here.