U.S. regulators plan to strengthen customer protection for cryptocurrency accounts, bringing new changes to the crypto industry. The Consumer Financial Protection Bureau (CFPB) suggests that cryptocurrency companies should be responsible for refunds when customer accounts are hacked. This proposal aims to align the security standards of digital wallets with those of traditional bank accounts.

CFPB hopes to protect customers from payment fraud by expanding the scope of the Electronic Fund Transfer Act. This move will force digital asset companies to enhance security measures to ensure the safety of customer funds. The new regulations may cover stablecoins and cryptocurrency tokens similar to digital dollars, further regulating the crypto market.🔍💼