Cryptocurrencies are becoming mainstream as cryptocurrency trading has increased and we’ve seen more interest from the SEC and other regulators. As compliance teams consider the possibility of increased regulation, they will need to evaluate their firms’ code of ethics policies and determine the best approach to monitoring cryptocurrency trading by their employees as part of their compliance program.
This trend was evident in a recent survey of compliance professionals during a ComplySci Supervisor Webinar. We learned:
- 69% of attendees anticipate cryptocurrency trading activity to increase in the next six months
- 44% of attendees don’t know how many of their employees are currently active in cryptocurrencies
- While 53% of attendees anticipate monitoring cryptocurrency will become a future priority, only 10% have created a policy around it
As financial markets continue to evolve and individuals become more active investors, compliance teams will need to expand their employee monitoring processes keep up with these emerging trends. The right compliance technology tools will help compliance teams manage data more effectively, streamline processes, and demonstrate the effectiveness of your compliance program.
ComplySci compliance software automates compliance tasks and securely stores compliance data, reducing manual tasks and freeing the compliance team to focus on more value-added activities.