CFPB Eyes More Oversight of Crypto Transactions and Platforms

CFPB director says agency is looking at applying electronic fund transfer laws to crypto to reduce errors, hacks, unauthorized transfers.

CFPB plans include providing guidance on how existing electronic fund transfer laws apply to crypto. Laws obligate disclosing liability for unauthorized transfers.

CFPB to issue orders to "large tech firms" to gain information on crypto, personal data, private currencies.

CFPB will look into examining non-banks offering payment platforms.

Suggests designating some crypto activities as "systemically important" to provide oversight tools to ensure stablecoins are stable.