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Crypto Gets New U.S. Oversight at Agencies That Once Held Back

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Crypto's Teenage Years
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President Joe Biden’s cryptocurrency executive order put the nation’s two federal consumer protection regulators front and center in regulating digital money.

The Federal Trade Commission and the Consumer Financial Protection Bureau have largely taken a back seat to other financial regulators when it comes to crypto. But Biden’s March 9 order directed the CFPB and FTC to study how they can police crypto transactions for fraud and abuse, a mission both agencies are equipped to do.