Carsan

Global coordination on crypto rules

Research shows around 17% of people in the US have traded, invested in or used a cryptocurrency. If the crackdown by regulators cuts their access, these people may be able to use centralised exchanges in other countries, decentralised exchanges, or other means to trade cryptocurrencies.

But regulators in other major financial markets could follow the SEC’s lead when it comes to crypto rules. The UK’s Financial Conduct Authority recently announced new regulations for cryptocurrency firms operating in the country. This includes measures to ensure investors know the risks involved, that adverts are clear and not misleading, as well as a ban on “refer a friend” bonuses. But these rules will only affect the marketing of cryptocurrencies in the UK, so it’s a relatively small step.