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3 Comments
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tldr; The US Consumer Financial Protection Bureau (CFPB) has proposed a rule to expand consumer protections for cryptocurrency users by holding crypto service providers accountable for compensating users who lose funds to theft or fraud. The proposal aims to include crypto accounts under the Electronic Fund Transfer Act, aligning them with traditional bank accounts. Critics argue the rule lacks clarity, particularly regarding non-custodial wallets, and may face implementation challenges. Public comments are open until March 31.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
What’s a crypto provider?