Crypto consumer safeguards expected ‘within 12 months’

The Australian-born head of international policy at cryptocurrency tracking and investigations firm Chainalysis believes the federal government will soon move to increase consumer protections, bringing in rules around market manipulation and advertising standards to align with more traditional investments.

Last week, the US Securities Exchange Commission began a probe into insider trading in crypto and how exchanges are handling it. Earlier in June, a former employee at OpenSea – the world’s largest marketplace for non-fungible tokens – was charged with wire fraud and money laundering in connection with insider trading of NFTs, marking the first insider trading charge related to digital assets.

“If you think about the UK and what’s going on today, they’ve very much taken the approach which brings crypto assets into a very similar regime as they have for other financial products,” she said.

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