This piece was first published in ThoughtLeaders4 Disputes Magazine, September 2024.
Cryptocurrency has changed the financial landscape, providing new ways online transactions can occur. While digital assets are no longer ‘emerging’ and are firmly here to stay, the UK is still developing a regulatory framework to cover the dynamic sector. The volatile ecosystem faces significant security risks, as evidenced by the recent data breach at WazirX, a major Indian cryptocurrency exchange. This incident is part of a troubling trend of sophisticated cyberattacks specifically targeting the crypto sector.
The future of cryptocurrency depends on finding a balance between security, privacy, and regulatory compliance. As the industry develops, it must prioritise the protection of user data and the implementation of best practices in cybersecurity. Simultaneously, regulatory bodies must strive to create an environment that supports innovation while safeguarding users.
View the full ThoughtLeaders4 Disputes Magazine here.
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