<ul><li>Former CFPB Director, Rohit Chopra, expresses concern over big tech firms issuing stablecoins due to potential privacy, surveillance, and competition issues.</li><li>There are worries that allowing tech giants to issue stablecoins could lead to the mixing of payment and commerce, potentially giving them unfair advantages.</li><li>Rohit Chopra emphasizes the importance of maintaining the traditional banking system to ensure the safe handling of deposits and lending.</li><li>Chopra advocates for stablecoins backed by tokenized bank deposits to ensure consumer safety, regulatory scrutiny, and alignment with the financial system's public purpose.</li></ul>

Why the Former CFPB Director Doesn’t Want Big Tech to Issue Stablecoins

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