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Financial watchdogs should do more to protect crypto traders, top Swiss regulator says

Cryptocurrency trading increasingly resembles the U.S. stock market of the late 1920s, Switzerland's top market regulator said

June 22, 2022 / 04:31 PM IST
Photographer: Angel Garcia/Bloomberg

Photographer: Angel Garcia/Bloomberg

Cryptocurrency trading increasingly resembles the U.S. stock market of the late 1920s, Switzerland’s top market regulator said on June 22, calling for regulators to act further to protect consumers from abuse in the freewheeling sector.

"There’s much more than can be done," said Urban Angehrn, CEO, Swiss Financial Market Supervisory Authority, at a conference.

"It would seem to me that a lot of trading in digital assets looks like the US stock market in 1928, where all kinds of abuse, pump and dump, are now in fact frequently common."
Reuters
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