Ethan Ostroff, a legal expert from Troutman Pepper Locke, indicates that the Consumer Financial Protection Bureau (CFPB) will likely have a diminished involvement in overseeing cryptocurrency regulations as the SEC and state bodies assume greater responsibilities.
Regulatory agencies, especially the New York Department of Financial Services and the California Department of Financial Protection and Innovation, are poised to play an essential role in the evolving cryptocurrency landscape, reflecting a shift in oversight within the financial sector.
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