The dismantling of the Consumer Financial Protection Bureau under Trump’s administration has left consumers vulnerable, particularly crypto users. Prominent voices in the industry initially supported this move, believing it would yield more favorable regulations. However, with the agency’s collapse, users face significant risks without adequate protective measures.
Critics, including former regulators, assert that current conditions lack necessary consumer protections, leaving users, especially crypto holders, without recourse when faced with issues like account lockout. Some consumers report being locked out of exchanges like Coinbase and Kraken for months, raising serious concerns about the adequacy of existing oversight.
Leave a Reply