- Increased government oversight and regulation
- Stricter compliance requirements for cryptocurrency exchanges
- Enhanced consumer protection measures
Increased government oversight and regulation
In 2024, governments around the world have implemented stricter regulations on cryptocurrency to combat illegal activities such as money laundering and fraud. This includes increased monitoring of cryptocurrency transactions and stricter enforcement of compliance measures.
Stricter compliance requirements for cryptocurrency exchanges
Cryptocurrency exchanges are now required to adhere to more stringent compliance requirements, including Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations. This is aimed at reducing the risk of illicit activities and ensuring the legitimacy of transactions.
Enhanced consumer protection measures
To protect consumers from potential risks associated with cryptocurrency investments, governments have introduced measures such as mandatory disclosure of risks, investor education initiatives, and stricter enforcement of consumer protection laws. These measures aim to increase transparency and safeguard the interests of cryptocurrency investors.