The U.S. Consumer Financial Protection Bureau has established rules for large non-bank companies providing digital payment services, but these do not cover cryptocurrencies

The Consumer Financial Protection Bureau (CFPB) in the United States has finalized a rule that grants it the authority to regulate "large non-bank companies," but specifically excludes cryptocurrencies.

The agency, responsible for regulating consumer financial markets, completed a rule on Thursday called "Defining Larger Participants of the Market for General Purpose Digital Consumer Payment Applications." 

This rule was initially proposed in November last year and aims to give CFPB the power to oversee "larger non-bank companies" offering services such as digital wallets and payment applications. According to CFPB, the rule requires non-bank financial firms processing more than 50 million transactions annually to follow rules similar to those of large banks and credit unions. (The Block)