🚀Crypto fans, buckle up! The US Consumer Financial Protection Bureau (CFPB) is considering applying the Electronic Fund Transfer Act (EFTA) to protect you from fraudulent crypto transfers. Director Rohit Chopra says they're exploring guidance on how EFTA applies to "private digital dollars and other virtual currencies."
- EFTA, passed in 1978, limits consumer losses from unauthorized electronic transfers 💸
- CFPB's move comes amid a 150% YoY increase in crypto-platform hacks 😱
- The agency will also issue orders to "certain large technology firms" to gain info on their business practices 🕵️♂️
Stay tuned for more updates on this crypto-protection mission!
- EFTA, passed in 1978, limits consumer losses from unauthorized electronic transfers 💸
- CFPB's move comes amid a 150% YoY increase in crypto-platform hacks 😱
- The agency will also issue orders to "certain large technology firms" to gain info on their business practices 🕵️♂️
Stay tuned for more updates on this crypto-protection mission!