Overview of the financial supervision situation in the United States
On May 9, a report from Jinshi stated that the Consumer Financial Protection Bureau (CFPB) has ended regulations against Google Payment Corp, reversing the Biden administration's decision to bring this organization under non-bank financial management. According to Acting Director of the CFPB, Mr. Watt, regulating Google Payment is a "waste of resources."
However, Google stopped its payment service since June of last year. Under the leadership of former Director Rohit Chopra, the CFPB focused on overseeing non-bank financial organizations such as cryptocurrency wallets and payment apps. But the focus has shifted to licensed banking organizations.
As a result, this agency has ended many oversight policies and lawsuits against non-depository financial companies. Nevertheless, this shift still ensures flexibility in coordinating between traditional financial sectors and cryptocurrency.
Note: This information is for market information purposes only and does not constitute investment advice.
Source: https://tintucbitcoin.com/cfpb-huy-chi-dao-google-pay-tac-dong-len-tien-dien-tu/
Thank you for reading this article!
Please Like, Comment, and Follow TinTucBitcoin to stay updated on the latest news about the cryptocurrency market and not miss any important information!
