Crypto trading is increasingly similar to the U.S. stock market of the late 1920s, the head of the Swiss financial watchdog has remarked. The high-ranking official believes that regulatory agencies around the world should do more to ensure investor protection.
Swiss Financial Watchdog Executive Calls for More Regulations for ‘Abusive’ Crypto Market
Governments are still trying to find the best approach to overseeing the $900-billion crypto asset market, which in many jurisdictions is only partially regulated, Euronews noted in a report on Wednesday. Officials have issued numerous warnings about the risks associated with cryptocurrency investments, including “manipulation of opaque crypto markets.”
Much more can be done in that regard, according to a statement by Urban Angehrn, CEO of Switzerland’s Financial Market Supervisory Authority (Finma). Speaking during a conference in the Swiss city of Zurich, Angehrn further commented:
It would seem to me that a lot of trading in digital...
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