Odaily Planet Daily News: The US Consumer Financial Protection Bureau (CFPB) has proposed to include digital wallets in the same protection standards as bank accounts, requiring service providers to compensate customers for financial losses caused by hacker attacks or unauthorized transactions. The CFPB plans to expand the scope of application of the Electronic Funds Transfer Act to include stablecoins and other digital assets, emphasizing that "any asset used similarly to currency" will be protected. The CFPB hopes to strengthen consumer protection through this rule and set higher compliance standards for the cryptocurrency industry. The rule change may have a significant impact on companies in the United States that hold clients' encrypted assets, such as exchanges and custodians, as these companies need to maintain sufficient reserves to cope with potential losses. The CFPB is soliciting industry opinions, with a comment period ending on March 31st, after which it will decide whether to issue final rules. (Financial Times)
