As regulators mull over the implementation of rules to safeguard investors in the rapidly expanding cryptocurrency markets, financial firms are taking proactive steps, a survey reveals.

InvestmentNews reports that, according to a survey conducted by StarCompliance, 43 percent of respondents already have policies governing employee crypto-trading, while an additional 23 percent plan to enact such policies this year.

Many firms indicate that their existing conflict-of-interest policies for trading traditional securities and digital assets already cover crypto assets. For those with dedicated crypto policies, key elements include pre-clearance of trades to prevent conflicts of interest, a ban on crypto mining and involvement in initial coin offerings, and disclosure of crypto trading accounts and holdings to prepare for future regulations.

Asset managers represented 47 percent of respondents, with other participants including broker-dealers, private equity firms, and investment banks. While most respondents are uncertain about the age group of employees most active in crypto trading, approximately one-third indicated that millennials dominate in this regard.

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