
The CFPB’s proposal, its first attempt to regulate cryptocurrencies and stablecoins, is unlikely to survive the administration change.
By Parag Patel, Adam Bruce Fovent, and Deric Behar
On January 10, 2025, the Consumer Financial Protection Bureau (CFPB) issued a proposed interpretative rule that would extend the consumer protections of the Electronic Funds Transfer Act (EFTA) to certain stablecoin and other virtual currency accounts, video game accounts, and credit card rewards points accounts (the Proposed Interpretation).1 In issuing