US Consumer Financial Protection Bureau acknowledges Ripple’s rise

US Consumer Financial Protection Bureau report on proposed EFTC changes is out. Cryptocurrencies have found a strong mention in the report published by the US Consumer Financial Protection Bureau. The report mentions the proposed changes that the bureau wants to be implemented in the Electronic Fund Transfer Act which controls how the financial channels work across the US and globally as well. The proposal clearly states that the rise in the use of cryptocurrencies, including Ripple and Bitcoin, must be accommodated or recognized at the international transactional levels. Remittances are particularly affected as a significant number of transactions happen with