cryptohunter
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The Commodity Futures Trading Commission (CFTC) oversees parts of the cryptocurrency market, treating virtual currencies as commodities. Companies dealing in cryptocurrency derivatives or running trading platforms fall under CFTC regulation.
For those handling cryptocurrencies, adhering to AntiMoney Laundering and Know Your Customer (KYC) rules is vital. Cryptocurrency exchanges must register as money services businesses (MSBs) and implement AML programs, as mandated by the FinCEN.
States also have varying regulations. New York, for instance, follows the BitLicense framework, a specific licensing system for virtual currency businesses.
For those handling cryptocurrencies, adhering to AntiMoney Laundering and Know Your Customer (KYC) rules is vital. Cryptocurrency exchanges must register as money services businesses (MSBs) and implement AML programs, as mandated by the FinCEN.
States also have varying regulations. New York, for instance, follows the BitLicense framework, a specific licensing system for virtual currency businesses.
