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Bitcoin Magazine: A “Good Start”: U.S. Introduces Office of Innovation and Sandbox for FintechAugust 02, 2018
The Consumer Financial Protection Bureau through its newly created Office of Innovation is planning to develop a “regulatory sandbox” to help emerging fintech businesses comply with government rules.
O’Melveny senior counsel Laurel Loomis Rimon thinks “it’s a good first step,” although she noted that there are no clear definitions for such regulatory frameworks. Regardless, “Rimon remains optimistic that real progress lies ahead. When she crosses paths with CFPB officials, she says she sees a genuine ‘excitement and interest in this new technology.’”
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