What regulations are in place for digital currency in America?

1 answers

• Dec 17, 2021 · 3 years ago
  As an expert in the field, I can tell you that digital currency regulations in America are quite complex. The federal government has its own set of rules, with FinCEN requiring exchanges and money service businesses to register and comply with AML and KYC regulations. The SEC also plays a role in regulating ICOs and certain cryptocurrencies. However, it's important to note that each state has its own regulations as well, which can vary significantly. For example, New York has the BitLicense, which imposes additional requirements on businesses operating in the state. Other states may have different licensing or registration requirements. It's crucial for individuals and businesses to understand and comply with both federal and state regulations to avoid any legal issues or penalties.
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