Close Menu
AsiaTokenFundAsiaTokenFund
  • Home
  • Crypto News
    • Bitcoin
    • Altcoin
  • Web3
    • Blockchain
  • Trading
  • Regulations
    • Scams
  • Submit Article
  • Contact Us
  • Terms of Use
    • Privacy Policy
    • DMCA
What's Hot

Dubai Signs Deal With Crypto.com – Pay for Flights and Shopping in Crypto

July 9, 2025

Is 0% Crypto Tax Coming? Everything About the U.S. House Hearing

July 9, 2025

Japanese Firms Remixpoint Joins Bitcoin Treasury With $215M Buy Plan

July 9, 2025
Facebook X (Twitter) Instagram
Facebook X (Twitter) YouTube LinkedIn
AsiaTokenFundAsiaTokenFund
ATF Capital
  • Home
  • Crypto News
    • Bitcoin
    • Altcoin
  • Web3
    • Blockchain
  • Trading
  • Regulations
    • Scams
  • Submit Article
  • Contact Us
  • Terms of Use
    • Privacy Policy
    • DMCA
AsiaTokenFundAsiaTokenFund

Australian regulator warns of crypto ‘horror scenarios’ if Trump loosens regulation

0
By Aggregated - see source on February 20, 2025 Regulations
Share
Facebook Twitter LinkedIn Pinterest Email

The head of Australia’s competition regulator warned that US President Donald Trump’s pledge to relax crypto regulations could lead to “horror scenarios” for Australian consumers by making them more vulnerable to investment scams.

Gina Cass-Gottlieb, chair of the Australian Competition and Consumer Commission (ACCC), said any weakening of oversight in the US could exacerbate the risks associated with crypto-related fraud.

Cass-Gottlieb told ABC News:

“This is an environment — because of the sophistication of global crime, and also because potentially of regulatory ‘freeing up’ — that we certainly have an enhanced concern.”

Trump, who has positioned himself as a pro-crypto candidate, has promised to turn the US into the “crypto capital of the planet.” Under his new administration, the regulatory landscape has already begun to shift toward a friendlier environment for crypto.

His stance marks a sharp contrast from President Joe Biden, whose administration pursued legal action against major crypto firms and adopted a “regulation by enforcement” approach, which drew widespread criticism.

Crypto scams are a major concern

According to ACCC data, Australian consumers lost more than $1.3 billion to investment scams in 2023, with crypto playing a significant role — either as a payment method or as the subject of fraudulent schemes.

As part of its enforcement priorities for 2025-26, the ACCC is focusing on financial fraud and scams alongside broader competition concerns in industries such as aviation and retail.

The regulator has warned that if crypto regulations are loosened in major markets like the US, scammers may exploit the opportunity to defraud Australian investors.

Cass-Gottlieb’s remarks come as Australia continues to debate its own regulatory approach to digital assets. The country has introduced stricter licensing requirements for crypto service providers, but consumer protection advocates argue that more oversight is needed to curb fraudulent schemes.

The ACCC’s concerns add to the ongoing global debate over crypto regulation, with policymakers balancing innovation and financial security amid rising mainstream adoption of digital assets.

Scams on the rise

According to a report by Web3 security firm Cyvers, pig butchering scams dominated crypto fraud in 2024, accounting for $3.6 billion in losses.

The long-term fraud method, where victims are groomed over time before being coerced into fraudulent investments, surpassed other forms of crypto scams. Cyvers traced these scams to over 150,000 blockchain addresses, highlighting the scheme’s widespread nature.

Scammers increasingly relied on dating apps and social media to lure victims, creating fake profiles to build trust before persuading them to invest in fraudulent platforms. Despite the surge in fraudulent activity, cyber investigators recovered $1.3 billion in stolen assets through on-chain tracking and bug bounty programs.

Mentioned in this article
Blocscale

Credit: Source link

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Dubai Signs Deal With Crypto.com – Pay for Flights and Shopping in Crypto

July 9, 2025

Is 0% Crypto Tax Coming? Everything About the U.S. House Hearing

July 9, 2025

Japanese Firms Remixpoint Joins Bitcoin Treasury With $215M Buy Plan

July 9, 2025
Leave A Reply Cancel Reply

What's New Here!

Dubai Signs Deal With Crypto.com – Pay for Flights and Shopping in Crypto

July 9, 2025

Is 0% Crypto Tax Coming? Everything About the U.S. House Hearing

July 9, 2025

Japanese Firms Remixpoint Joins Bitcoin Treasury With $215M Buy Plan

July 9, 2025

Forget the Shiba Inu (SHIB) Noise: These 4 Tokens Are the True Millionaire-Makers in 2025

July 9, 2025
AsiaTokenFund
Facebook X (Twitter) LinkedIn YouTube
  • Home
  • Crypto News
    • Bitcoin
    • Altcoin
  • Web3
    • Blockchain
  • Trading
  • Regulations
    • Scams
  • Submit Article
  • Contact Us
  • Terms of Use
    • Privacy Policy
    • DMCA
© 2025 asiatokenfund.com - All Rights Reserved!

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

Ad Blocker Enabled!
Ad Blocker Enabled!
Our website is made possible by displaying online advertisements to our visitors. Please support us by disabling your Ad Blocker.