US consumer finance watchdog sued for treating digital wallets like banks
The new December ruling from the US Consumer Financial Protection Bureau impacts payment apps and digital wallets offered by large non-bank companies.
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The new December ruling from the US Consumer Financial Protection Bureau impacts payment apps and digital wallets offered by large non-bank companies.
A proposed CFPB rule could allow crypto users to have protections similar to those of US bank account holders by considering the definition of “funds.”
The agency highlighted consumer and industry comments in a 259-page report detailing the final draft of the “Larger Participants” rule.
