CoinInsight360.com logo CoinInsight360.com logo
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
crypto.news 2025-01-10 15:50:47

U.S. agency proposes rule requiring refunds after crypto hacks

The Consumer Financial Protection Bureau has proposed a rule that would require U.S. cryptocurrency companies to refund customers who lose funds due to hacks or unauthorized transactions. he proposal aims to extend the consumer protections already in place for traditional bank accounts to digital wallets used for cryptocurrencies, according to Financial Times reporting. The CFPB’s rule seeks to expand the scope of the Electronic Fund Transfer Act to cover digital assets such as stablecoins — crypto tokens designed to maintain a stable value — and other fungible tokens used for payments. If adopted, the expansion would redefine “funds” to include assets that act as money or are used to pay for goods and services. Cryptocurrency accounts, often referred to as wallets, allow users to store digital currencies and make transactions. Unlike traditional bank accounts, however, these wallets are not universally protected against losses resulting from hacking or fraud. The CFPB’s proposal would change that, requiring service providers to compensate customers for stolen funds. You might also like: Taiwanese man arrested for illicit USDT use, first case under new AML laws Crypto hacks The proposal comes amid a surge in cryptocurrency hacking incidents. Blockchain analytics firm Chainalysis reported 303 crypto hacks in 2024, resulting in $2.2 billion in stolen funds. North Korean groups were responsible for over $1.6 billion of these losses, doubling their theft from the previous year. The CFPB’s proposal marks one of the final crypto-related initiatives from the Biden administration. However, its future remains uncertain as the incoming Trump administration, which has shown strong support for the crypto industry, prepares to take office. Several Trump advisers, including Elon Musk and Vivek Ramaswamy, have publicly criticized the CFPB, calling for its reduction or elimination. Public comments on the CFPB proposal are open until March 31, after which the bureau will decide whether to issue a final rule. You might also like: XYZVerse targets $20 milestone before Cardano hits $2 and XRP touches $5

Feragatnameyi okuyun : Burada sunulan tüm içerikler web sitemiz, köprülü siteler, ilgili uygulamalar, forumlar, bloglar, sosyal medya hesapları ve diğer platformlar (“Site”), sadece üçüncü taraf kaynaklardan temin edilen genel bilgileriniz içindir. İçeriğimizle ilgili olarak, doğruluk ve güncellenmişlik dahil ancak bunlarla sınırlı olmamak üzere, hiçbir şekilde hiçbir garanti vermemekteyiz. Sağladığımız içeriğin hiçbir kısmı, herhangi bir amaç için özel bir güvene yönelik mali tavsiye, hukuki danışmanlık veya başka herhangi bir tavsiye formunu oluşturmaz. İçeriğimize herhangi bir kullanım veya güven, yalnızca kendi risk ve takdir yetkinizdedir. İçeriğinizi incelemeden önce kendi araştırmanızı yürütmeli, incelemeli, analiz etmeli ve doğrulamalısınız. Ticaret büyük kayıplara yol açabilecek yüksek riskli bir faaliyettir, bu nedenle herhangi bir karar vermeden önce mali danışmanınıza danışın. Sitemizde hiçbir içerik bir teklif veya teklif anlamına gelmez