Close Menu
Crypto News InsidersCrypto News Insiders
  • News
  • Videos
  • Learn
  • Bitcoin
  • Altcoin
  • Ethereum
  • Stablecoins
  • Blockchain
  • NFTs
  • Markets
  • Politics
  • DeFi
  • ETF
  • Insights
  • Web3
Trending

IDX Files for Gold and Bitcoin ETFs Following Approval of Crypto Mortgages

10 mins ago

Joseph Lubin Proposes Leverage Concept for Sharplink to Reflect Saylor’s Strategy

13 mins ago

Crypto Market Recovers from Q1 Decline with 19% Gain, Bitcoin Surpasses Gold: Coingape Q2 2025 Report

18 mins ago

Similar to Ordering McDonald’s: Malta’s MiCA Fast-Track Raises Oversight Issues

20 mins ago

Low HYPE Demand Follows Hyperliquid’s Surge in DEX Volume—Can Bulls Turn This Around?

22 mins ago
Facebook X (Twitter) Instagram
Facebook X (Twitter) Instagram
Crypto News InsidersCrypto News Insiders
Login
Live Markets
  • News
  • Coins
    • Bitcoin
    • Ethereum
    • Altcoin
    • Stablecoins
  • Blockchain
  • Insights
  • NFTs
  • Markets
  • Politics
  • DeFi
  • Learn
  • Videos
  • More
    • Web3
    • ETF
Newsletter
Crypto News InsidersCrypto News Insiders
Home»Politics
Politics

Australian regulator issues warning about potential crypto ‘horror scenarios’ if Trump relaxes regulations

News RoomBy News Room4 months ago0 ViewsNo Comments2 Mins Read
Facebook Twitter Pinterest Telegram Email Tumblr Reddit LinkedIn

The head of Australia’s competition regulator, Gina Cass-Gottlieb, has warned that Donald Trump’s plan to relax crypto regulations could have negative consequences for Australian consumers. Cass-Gottlieb expressed concerns that any weakening of oversight in the US could make Australian consumers more vulnerable to investment scams, especially in the crypto space.

Trump, who has expressed support for cryptocurrencies, has vowed to make the US the “crypto capital of the planet” and has already initiated changes to create a more favorable regulatory environment for the industry. This is a departure from the approach taken by President Joe Biden, whose administration pursued legal action against major crypto firms and adopted a more enforcement-focused regulatory strategy.

According to data from the Australian Competition and Consumer Commission (ACCC), Australian consumers lost over $1.3 billion to investment scams in 2023, with crypto being a significant factor in many of these schemes. As part of its priorities for the coming year, the ACCC is focusing on combating financial fraud and scams, including those related to crypto, as well as addressing broader competition issues in industries such as aviation and retail.

The ACCC has raised concerns that any relaxation of crypto regulations in major markets like the US could create opportunities for scammers to target Australian investors. This comes at a time when Australia is still debating its own approach to regulating digital assets, with stricter licensing requirements already in place for crypto service providers but calls for additional oversight to protect consumers from fraudulent activities.

The rise of crypto scams is a global issue, with pig butchering scams – a long-term method of grooming victims before coercing them into fraudulent investments – accounting for significant losses in 2024, according to a report by Web3 security firm Cyvers. Scammers are increasingly using dating apps and social media to lure victims, creating fake profiles to build trust before convincing them to invest in fraudulent platforms. However, cyber investigators have also made progress in recovering stolen assets through on-chain tracking and bug bounty programs.

The ongoing debate over crypto regulation highlights the challenge policymakers face in balancing innovation and financial security in the rapidly evolving digital asset space. As mainstream adoption of cryptocurrencies continues to grow, ensuring consumer protection and combatting fraudulent activities will be crucial priorities for regulators around the world, including in Australia.

Demo
Share. Facebook Twitter Pinterest LinkedIn Email Telegram WhatsApp

Related News

TikTok Faces Off Against US Congressman Over Alleged $300M Trump Token Bribe

Politics 1 week ago

Iran’s Nobitex Suffers $100 Million Loss from Symbolic Cyberattack

Politics 2 weeks ago

Pakistan Forms Bitcoin ‘Super Team’ as Michael Saylor Joins CZ on Crypto Advisory Council

Politics 2 weeks ago

US States Divided on Bitcoin: Connecticut Bans Reserves While Louisiana Looks to Expand Blockchain

Politics 3 weeks ago

Nearly $1 Billion Liquidated as Bitcoin Bounces Back from $100K Drop Following Elon Musk and Donald Trump’s Split

Politics 3 weeks ago

El Salvador Continues to Resist IMF Pressure to Stop Accumulating Bitcoin

Politics 1 month ago

Bitcoin Drops 4% as Donald Trump Threatens Tariffs on Imported iPhones and EU Goods

Politics 1 month ago

Ripple CEO Brad Garlinghouse Confused After Being Snubbed by Pro-Crypto Senator Cynthia Lummis

Politics 1 month ago

Senate Moves Forward with GENIUS Act Supported by Both Parties

Politics 1 month ago
Add A Comment
Leave A Reply Cancel Reply

Editors Picks

Joseph Lubin Proposes Leverage Concept for Sharplink to Reflect Saylor’s Strategy

13 mins ago

Crypto Market Recovers from Q1 Decline with 19% Gain, Bitcoin Surpasses Gold: Coingape Q2 2025 Report

18 mins ago

Similar to Ordering McDonald’s: Malta’s MiCA Fast-Track Raises Oversight Issues

20 mins ago

Low HYPE Demand Follows Hyperliquid’s Surge in DEX Volume—Can Bulls Turn This Around?

22 mins ago

India’s Ruling Party Spokesperson Proposes Bitcoin Reserves as US Fear of Missing Out Ignites BTC Surge

1 hour ago

Latest News

Will Pi Coin Bounce Back Before Pi2Day as the Pi Browser Introduces New Features?

1 hour ago

Robert Kiyosaki Says, “I Wish I Had Bought More,” Emphasizing $1 Million Bitcoin Target

1 hour ago

BTC DEX Traders Take Positions Against Price Declines with $85K-$106K Puts, Data from Derive Shows

1 hour ago

Subscribe to News

Get the latest crypto news and updates directly to your inbox.

Advertisement
Demo
Facebook X (Twitter) Pinterest TikTok Instagram
2025 © Crypto News Insiders. All Right Reserved.
  • Privacy Policy
  • Terms
  • Press Release
  • Advertise
  • Contact

Type above and press Enter to search. Press Esc to cancel.

Sign In or Register

Welcome Back!

Login to your account below.

Lost password?