CFPB Director Chopra Statement on the Digital Assets Executive Order

CFPB Director Chopra provided comments on President Biden’s recent Executive Order addressing the future of digital assets in the United States.  The Executive Order instructs financial regulatory agencies to implement new rules and regulations to help control the use of digital assets.  Beyond regulation, the Executive Order called for better practices to monitor the security risks associated with digital assets.  Director Chopra stated that the “dramatic growth in digital asset markets has created profound implications for financial stability, consumer protection, national security, and energy demand.”  Director Chopra also stated that the CFPB would work to promote innovation while also reducing the risks associated with digital assets.