US consumer finance regulator is considering applying electronic banking laws to cryptocurrencies

CoinVoice has recently learned that on October 9, according to Cointelegraph, the United States’ top consumer financial protection agency is considering applying the Electronic Funds Transfer Act (EFTA) to cryptocurrencies to protect consumers from fraudulent cryptocurrency transfers.

Rohit Chopra, director of the U.S. Consumer Financial Protection Bureau (CFPB), said in a speech at the Brookings Institution think tank’s payments conference on October 6 that the agency is considering applying EFTA to “private digital dollars and other virtual currencies.” [Original link]