The Consumer Financial Protection Bureau (CFPB) proposed a new interpretive rule on Jan. 10 that could extend the Electronic Fund Transfer Act (EFTA) protections to crypto wallets, potentially holding them accountable in case of hacks.

The proposed rule, currently open for commentary, clarifies how existing EFTA regulations apply to new payment systems, including stablecoins and other digital payment mechanisms. It aims to provide consumers the same protections they enjoy with traditional banking and electronic fund transfers.