Former US Consumer Finance Watchdog Voices Support for Bitcoin
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?"....
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The emergence of social audio applications like Clubhouse and Twitter Spaces in 2021 amplified new and old Bitcoin voices.
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Consumers have been warned by a federal watchdog about the risks of using cryptocurrencies like Bitcoin. The CPFB (Consumer Financial Protection Bureau) recently said that it will start gathering complaints from people who use products like Bitcoin and online exchanges. The agency released an advisory mentioning that digital currencies are not supported by the government; furthermore, they have volatile exchange rates and are often targeted by scammers and hackers. Unlike bank accounts, deposits that are Bitcoin-based are not federally insured. Bitcoin advocates agreed to CFPB's....