U.S. Consumer Financial Protection Bureau Seeks to Give Bitcoin More Attention

A new report from Bloomberg suggests that bitcoin is about to get a whole lot more attention from the United States Consumer Financial Protection Bureau

The investigative arm of the United States Congress, The Government Accountability Office had written in what has been described as a confidential report that the Consumer Financial Protection Bureau needed to be more active in the field of creating digital currency policies.

The Bureau responded to the Government Accountability Office in agreement:

“We’re looking forward to increasing our involvement in formal working groups as they engage on specific issues relating to consumer protection,” wrote William Wade-Gery, the acting assistant director for card and payment markets in early May.

The Government Accountability Office hasn’t outlined how they want the Bureau to be more active in the digital currencies policies space, but it’s likely to be related to regulation and preventing financial crimes.

“GAO’s report underscores the importance that all sectors — law enforcement, industry, relevant regulators, and consumer protection agencies — must come to the table and engage in meaningful dialogue to provide clear rules of the road for entrepreneurs, investors, and consumers alike,” said Senator Tom Carper in a statement emailed to Bloomberg.

Tom Carper led Senate hearings on bitcoin last year, and has become one of the first lawmakers to take a serious look at digital currency usage in today’s economy.