- Increased government oversight and regulation
- Stricter AML and KYC requirements
- Enhanced consumer protection measures
Increased Government Oversight and Regulation
In 2024, governments around the world have ramped up their efforts to regulate the cryptocurrency market. This includes implementing new laws and regulations to monitor and control the use of digital currencies.
Stricter AML and KYC Requirements
To combat money laundering and terrorist financing, stricter anti-money laundering (AML) and know your customer (KYC) requirements have been put in place for cryptocurrency exchanges and businesses. This ensures that individuals and entities involved in cryptocurrency transactions are properly identified and verified.
Enhanced Consumer Protection Measures
In response to the growing popularity of cryptocurrencies, governments have also implemented enhanced consumer protection measures to safeguard investors and users. This includes measures to prevent fraud, improve transparency, and ensure the security of digital assets.