A well-known skeptic of cryptocurrencies is joining the Consumer Financial Protection Bureau<\/a>, which could signal more federal oversight in the future of the digital coins.<\/p>\n Bloomberg News reported Thursday (Jan. 27) that Alexis Goldstein<\/a>, who directs financial policy for the antimonopoly group Open Markets Institute<\/a>, will work on issues that include digital assets for the bureau.<\/p>\n Goldstein spent seven years working on Wall Street as a business analyst, developing trading technology. She eventually became disillusioned with the culture and quit. Later she joined forces with the Occupy Wall Street movement.<\/p>\n Last year, in her capacity as senior policy analyst for Americans for Financial Reform, Goldstein testified before Congress about the Gamestop trading controversy.<\/p>\n Read more: Second GameStop Hearing Focuses On Experts Over Usual Suspects<\/a><\/strong><\/p>\n \u201cMany have framed the GameStop mania as a David versus Goliath struggle,\u201d she told the House Financial Services Committee in March 2021.<\/p>\n In reality, Goldstein said, it\u2019s more of a case of \u201cGoliath vs. Goliath. The \u2018Goliaths\u2019 in this case are the largest Wall Street institutional players: hedge funds, especially those that employ high-frequency trading algorithms, and the \u2018flow\u2019 trading desks at major banks like Goldman Sachs and Morgan Stanley.\u201d<\/p>\n As Bloomberg notes, Goldstein\u2019s views, which have often lined up with those of progressive Democrats, could cause some headaches for crypto firms. She has called for more oversight on the digital tokens, raising concerns about the risks posed by stablecoins and other currency.<\/p>\n
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