- Increased government oversight and regulation of cryptocurrency exchanges and transactions
- Stricter KYC (Know Your Customer) and AML (Anti-Money Laundering) requirements for cryptocurrency investors
- Implementation of taxation policies for cryptocurrency transactions
Increased Government Oversight and Regulation
In 2024, governments around the world have implemented stricter regulations on cryptocurrency exchanges and transactions to ensure transparency and security within the market. This includes measures to prevent fraud, market manipulation, and illicit activities.
Stricter KYC and AML Requirements
Cryptocurrency investors are now required to adhere to more stringent Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements. This means that investors must provide more detailed personal information and undergo thorough identity verification processes when engaging in cryptocurrency transactions.
Implementation of Taxation Policies
Many countries have introduced taxation policies for cryptocurrency transactions, treating them similarly to traditional financial assets. This impacts investors by requiring them to report and pay taxes on their cryptocurrency gains, further integrating digital currencies into the existing financial system.