Original Mayer Brown content, perspectives and insights from across our global platform that touch on digital assets, decentralized finance, cryptocurrencies and related fields.
What to Expect From the CFPB on Payments and Big Tech
US Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra has long been focused on “big tech” and its uses of consumer data. A report recently issued by the CFPB provides important insights into how the agency (and presumably Chopra) thinks about these issues and what next steps we might expect. The report, titled “The Convergence of Payments and Commerce: Implications for Consumers,” discusses what the agency describes as three emerging use cases in the payments space, their implications for consumers, and the CFPB’s forthcoming areas of focus.
Key Considerations When Joining a Blockchain Consortium
Many blockchain technologies are developed by foundations or consortia, the members of which can be representatives of the industry hoping to create and successfully deploy the technology. The range of industries that have discovered the benefits of joining a blockchain consortium is diverse, including financial services, insurance, supply chain and logistics, transportation, healthcare and pharmaceuticals. Regardless of the industry, though, a number of common, key challenges must be addressed when creating or when joining a blockchain consortium. These include the governance of the consortium; the ownership, licensing and use of technology produced by it; and any associated antitrust claims and issues that may arise if it is to successfully launch and ensure the widespread adoption of blockchain technology within its industry.
