- Increased government oversight
- Stricter KYC and AML regulations
- Impact on investor protection
Increased government oversight
In 2024, governments around the world have implemented stricter regulations on cryptocurrency trading and transactions. This includes measures to monitor and regulate the use of digital currencies to prevent illegal activities such as money laundering and tax evasion.
Stricter KYC and AML regulations
With the new regulations, cryptocurrency exchanges and platforms are required to implement more robust Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures. This means investors will need to provide more personal information and undergo additional verification processes when using these platforms.
Impact on investor protection
The increased regulations aim to provide greater protection for investors by reducing the risk of fraud and ensuring that cryptocurrency transactions are conducted in a transparent and secure manner. However, these regulations may also limit the anonymity and privacy that some investors value in the cryptocurrency space.