Regulations on Pump-and-Dump Crypto Moves Called For — Market Talk
In the fallout of the Libra memecoin scam, in which the crypto coin endorsed by President of Argentina Javier Milei on Friday quickly surged and then plunged in value, some experts are calling for the U.S. Security and Exchange Commission to step in and act to prevent further pump-and-dump scams. "These fraudulent celebrity memecoin projects didn't emerge out of nowhere," says Nic Puckrin of the Coin Bureau in a statement. "They were born from the vacuum created by the lack of regulation by the SEC." Puckrin calls for the agency to introduce regulation to prevent crypto pump-and-dump scams like Libra. Top cryptocurrency Bitcoin is down 0.5% to $96,375 per coin in the last 24 hours, according to data from CoinMarketCap. ([email protected])