Today in crypto, US regulators are seeking to extend banking protections to cryptocurrency users. The Consumer Financial Protection Bureau (CFPB) has proposed a rule to offer similar safeguards for crypto wallet users who experience losses from hacks or scams. This rule aims to include consumer protections under the Electronic Fund Transfer Act for users transacting with stablecoins and other fungible crypto assets. In India, the cryptocurrency exchange WazirX is undergoing a restructuring plan after suffering a $235 million cyberattack in July 2024, with its parent company, Zettai, filing for a moratorium to compensate affected users. The UK Treasury has clarified that arrangements for crypto staking, including those on Ethereum and Solana, will not be classified as a collective investment scheme, easing regulatory burdens on these blockchain networks. This law amendment will take effect on January 31, 2025.

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