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14 July 2020

The Regulation of Crypto Exchanges Moving Forward

The Regulation of Crypto Exchanges Moving Forward


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The Regulation of Crypto Exchanges Moving Forward.

These exchanges largely regulated themselves on all parameters, be it crypto exchange fees, disclosure requirements and even security.

It was then that people began to appreciate the scale and magnitude of cryptocurrency transactions globally.

The unique aspects of cryptocurrency distill into the fact that it does not rely on centralized control to work.

This means that is a complete alternative to traditional cash-based systems.  Therefore, the primary concern for governments across the world was the anonymity of crypto transactions.

Know Your Customer (KYC) and AML (Anti-Money Laundering) requirements essentially mean that users waive their anonymity.

Before looking at the regulation of exchanges, it is fair to mention the elephant in the room, which is the fact that many governments across the world are yet to make their position clear on cryptocurrency.

Europe does not regulate crypto at a regional level but countries like Germany, France, and Italy require exchanges to register with regulators.

In the USA, the Securities and Exchange Commission (SEC) has indicated that it intends to regulate crypto as a security.

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