The US Consumer Financial Protection Bureau (CFPB) is considering applying the Electronic Fund Transfer Act (EFTA) to cryptocurrency to protect consumers from fraudulent transfers. CFPB director Rohit Chopra said the agency is exploring providing guidance on how existing electronic fund transfer laws apply to crypto. The move comes amid a significant increase in crypto-platform hacks and the ongoing criminal trial of FTX co-founder Sam Bankman-Fried. The CFPB also plans to issue orders to large tech firms to gain information on their business practices regarding personal data and private currency.