LONDON: The global cryptocurrency industry has been slammed by setbacks, scandals and high-profile failures in recent months, sparking a regulatory rush to protect consumers from fraud and scams.
Global finance was rocked by the collapse of Silicon Valley Bank last week, and the digital currency sector was hit hard by the demise of United States crypto lenders Silvergate and Signature — just months after the bankruptcy of troubled crypto exchange trading platform FTX.
Regulators are increasingly keen for oversight of a sector which boomed during the Covid…
