According to foreign media, Jose Fernández da Ponte, PayPal senior vice president and general manager of blockchain, cryptocurrency and digital currency, recently mentioned in a consensus interview that consumers will offer Reg E insurance of up to $50,000 for cryptocurrency transactions. Last month, PayPal announced it would offer cryptocurrency transfers to Venmo customers. PayPal became the first company to commit to compensating users for losses caused by unauthorized cryptocurrency transfers. Reg E (Regulation E) is a regulation that requires financial institutions to compensate for all money withdrawn from a customer account through someone else's electronic payment.
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