Published Paper Details:

The rapid evolution of digital financial markets--driven by algorithmic trading, cryptocurrencies, NFTs, and social-media-driven investing--has created profound challenges for traditional insider trading regulations. Legal frameworks such as India's SEBI (Prohibition of Insider Trading) Regulations, 2015 (as amended in December 2024), the U.S. theories of classical and misappropriation insider trading, and the EU/UK Market Abuse Regulation (MAR) were primarily designed for conventional securities markets. These frameworks now face significant stress in addressing new forms of material non-public information (MNPI), including digital data exhaust, algorithmic signals, and influencer-driven financial communication. This paper investigates whether existing PIT/MAR regimes adequately address insider trading risks in these digital contexts and explores the regulatory gaps that emerge when social media "finfluencers," algorithmic pipelines, and alternative data sources blur the line between public and non-public information. The study makes three key contributions: first, it provides a cross-jurisdictional synthesis of insider trading law in India, the United States, and the European Union; second, it integrates legal analysis with market microstructure insights on algorithmic trading, high-speed data flows, and crypto-asset markets; and third, it develops a compliance blueprint for market participants that balances deterrence, innovation, and fairness. By mapping how digital information becomes "inside information" within algorithmic pipelines, this paper advances a more nuanced understanding of market integrity in the digital age and proposes regulatory strategies that can better safeguard investor trust while enabling technological progress.