The Consumer Financial Protection Bureau (CFPB) is seeking to regulate large non-bank payment providers.

BlockBeats reported on November 8th that the US Consumer Financial Protection Bureau (CFPB) released a proposal stating that it hopes to be responsible for regulating large non-bank payment providers to ensure that they comply with the same laws as more traditional financial institutions, including some sub-industries of cryptocurrency transactions. If the proposal is passed, the CFPB will take care of all parties involved in "general digital consumer payment applications", including fund transfer or wallet providers (if these funds are used by individuals for certain non-commercial purposes), and some digital asset transactions will be included in the regulatory definition of "funds".