Former CFPB Deputy Director Raj Date Sees Promise in Bitcoin
The former Deputy Director of the United States Consumer Financial Protection Bureau Raj Date is investing in bitcoin. He appeared on CNBC on Wednesday to discuss the digital currency, which he remains vocally bullish on. "The things I like about innovation in consumer finance, like bitcoin, like digital currency, is the exact reason I went to the Consumer Financial Protection Bureau," he said. "How is it that you can take new ideas and make the system work better for people?" Asked whether or not he thinks bitcoin needs regulation, Date said "Absolutely". "The potential for digital....
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Raj Date, the former Deputy Director of the US Consumer Financial Protection Bureau (CFPB), a consumer finance watchdog, said in an interview this week that he supports - and is now investing in - bitcoin. During a segment of Bloomberg Television's "Street Smart," Date commented that, on a personal level, he sees a lot of potential in digital currencies like bitcoin. "The thing I like about innovation in consumer finance, like bitcoin, like digital currency, is exactly the same reason I went to the CFPB. How is it that you can take new ideas and make the system work better for people?"....
The US Consumer Financial Protection Bureau (CFPB) has issued a new warning to consumers, advising that they should exercise caution when engaging with the bitcoin and digital currency markets. The CFPB advisory urges consumers to be vigilant as there are risks to consider when dealing and transacting with digital currency; namely, volatile exchange rates, unclear costs, security threats posed by hackers and scammers and the possibility that companies may not always be able to provide help or refunds for lost or stolen funds. Notably, the news comes two months after the Government....
The US Consumer Financial Protection Bureau (CFPB) incited a mixed response from the bitcoin community on 11th August when it issued a new warning to US consumers. The release evoked sometimes strong language in an attempt to warn the public about the potential dangers of engaging with the bitcoin ecosystem, with CFPB Director Richard Cordray likening the ecosystem to a virtual 'Wild West'. Following the release of the guidance, CoinDesk reached out to the CFPB for more details on how the agency has been working to educate its employees and consumers about bitcoin and digital currency, and....
Following up on an article in which the United States Consumer Financial Protection Bureau (CFPB) was aiming to give bitcoin more attention comes a potentially controversial statement from the Bureau's Director, reports The Hill. The watchdog bureau is waving the flags of caution for those who may be interested in getting involved with the digital currency, or any other cryptocurrency, adding these emerging payment forms carry "significant risks." "Virtual currencies may have potential benefits, but consumers need to be cautious and they need to be asking the right questions," said CFPB....
A diverse cast of investors has contributed to the most recent undisclosed seed funding round for blockchain-based, cross-border payments solution provider Align Commerce. Participants included more familiar names such as entrepreneur Barry Silbert's Bitcoin Opportunity Corp, Adam Draper-led Boost VC and hedge fund Pantera Capital. The round also included traditionally payments-focused VC firms such as Bayhill Capital Management, NyCa Investment, Pivot Holding, Fenway Summer, R3 and the Whittemore Collection. Unsurprisingly, not all participants are new to the ecosystem. Fenway Summer, for....