Former US Consumer Finance Watchdog Voices Support for Bitcoin
A former US government consumer finance watchdog has come out in support of bitcoin.
Apr 17, 2014 at 7:25 p.m. UTC
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, the former Deputy Director of the US Consumer Financial Protection Bureau (CFPB), a consumer finance watchdog, said in an interview this week that he supports - and is now investing in - bitcoin.
During a segment of Bloomberg Television's "Street Smart," Date commented that, on a personal level, he sees a lot of potential in digital currencies like bitcoin.
Pros and cons
Date currently serves on the board of directors for bitcoin stratup Circle Internet Financial. He is also the founder and managing director of Washington, D.C.-based investment firm Fenway Summer.
In the interview, Date said that bitcoin has the potential to deliver faster and more secure payments than is currently possible for most consumers, and remarked that the pace of innovation could result in a broader evolution in digital currencies.
Date said:
He continued:
Looking ahead
Date also pointed to the evolution of the bitcoin business ecosystem as a positive development. Date held up the example of the liquidation of Mt. Gox as a sign that companies in the space are maturing.
He said:
STORY CONTINUES BELOW
This industry transition was on display last week at Inside Bitcoins NYC. For more on that event, read our full report.
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