@yba According to TheBlock, the US Consumer Financial Protection Bureau (CFPB) is seeking public opinion on proposed rules aimed at providing consumers with more protection in encrypted transactions to prevent fraud. The CFPB has proposed an "explanatory rule" to explain how the Electronic Funds Transfer Act and other regulations apply to emerging "digital payment mechanisms" such as stablecoins. This law was passed in 1978 with the aim of protecting consumers' participation in electronic fund transfers. CFPB Director Rohit Chopra stated that consumers must be confident that their transactions will not be affected by harmful surveillance or errors when using new forms of digital payments. However, the future of CFPB's rule making is uncertain as the agency has sparked dissatisfaction from the incoming Trump administration. @yoginth