[The U.S. Consumer Financial Protection Bureau Seeks Public Opinions To Strengthen Consumer Protection For Crypto Transactions] According To The Block, The U.S. Consumer Financial Protection Bureau (CFPB) Is Seeking Public Opinions On Proposed Rules Aimed At Providing Consumers With More Protection In Crypto Transactions To Prevent Fraud. CFPB Proposed An "interpretive Rule" To Explain How The Electronic Funds Transfer Act And Other Regulations Apply To Emerging "digital Payment Mechanisms" Such As Stablecoins. The Law Was Passed In 1978 To Protect Consumers From Participating In Electronic Funds Transfers. CFPB Director Rohit Chopra Said That When Consumers Use New Forms Of Digital Payments, They Must Be Confident That Their Transactions Will Not Be Subject To Harmful Monitoring Or Errors. However, The Prospects For CFPB's Rulemaking Are Unclear Because The Agency Has Caused Dissatisfaction With The Incoming Trump Administration. Billionaire Elon Musk Has Said That He Would "delete CFPB." CFPB Noted That Consumer Use Of Stablecoins May Increase In The Coming Years, But Some People In The Crypto Industry Have Criticized The Proposed Rules. Coin Center Executive Director Peter Van Valkenburgh Said It Was Unclear Whether The Proposed Rule Covers Self-hosted Wallet Service Providers, Noting That The Agency Did Not Distinguish Between Cryptocurrency Services And Software Tools Provided By Trusted Intermediaries. Coin Center Emphasized That If The Cfpb Intends To Regulate Self-hosted Wallets Under Reg E And Directly Regulate The Authors Of Self-hosted Software, Then The Proposed Rule Will Exceed The Cfpb's Statutory Authority And Is Unconstitutional. The Deadline For Commenting On The Cfpb's Proposed Rule Is March 31, 2025