CFPB mandates crypto firms reimburse losses from hacks, aligning wallet protection with bank standards. Similar strict measures might soon impact global and Indian crypto operators.
hey everyone, this thread really got me thinking. i mean, if crypto companies are now forced to reimburse losses from hacks, isn’t that kinda like aligning them with what banks do? it sounds solid for user protection, but do we think it might be a double-edged sword creating extra burdens for smaller companies? i’m wonderin if this could slow down some innovation or maybe even lead to pricier services for users. also, what could be the long-term impacts on global markets if similar regulations come to play in other regions? curious to hear how you all see this playing out in real life and what challenges or benefits it might bring over time.
i think these stricter rules might boost trust in crypto, but could hit smaller outfits hard. may end up pushing costs on users if companies try to recoup losses over time. still, more protection never hurt, right?