Jenny Lee Quoted in Bloomberg Law: Crypto Order Pushes Biden’s Consumer Watchdogs to More Oversight
The article discusses President Biden's cryptocurrency executive order that puts consumer protection regulators first in regulating digital money. The Consumer Financial Protection Bureau is also working on open banking rules that will allow consumers to control how they share their personal banking data with fintech companies/apps.
"Much of the focus has been on banks, fintech and payment apps, but the rules could also have big implications for crypto firms," said Jenny. “Every time the consumer has a touch point with one of these services, there is potential for the company to be collecting consumer (personally identifiable information).”