open graph 1 Prolific crypto market demands regulation, investor education, experts say

Prolific crypto market demands regulation, investor education, experts say

* Experts say that improved investor education and better regulation are needed in the digital currency marketplace in order to protect consumers.
* The lack of transparency and corresponding regulation in the digital currency marketplace contributes to the rampant fraud surrounding the industry.
* Financial penalties like fines could also help protect investors from and discourage cryptocurrency fraud.
* Securities lawyers would likely classify crypto lending products as securities, which fall under the regulatory jurisdiction of the SEC.
* In the absence of federal regulation, enhanced legislation that can protect consumers, such as the bill sponsored by Sen. Chris Van Hollen, D-Md., that aims to protect seniors from financial scams, is advocated.
* Investor education can further serve as a complementary tool in the absence of regulatory financial disclosures.

 

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