Podcast
Questions and Answers
Which agency considers cryptocurrency to be a security?
Which agency considers cryptocurrency to be a security?
- Securities and Exchange Commission (SEC) (correct)
- Financial Crimes Enforcement Network (FinCEN)
- Treasury Department
- Commodity Futures Trading Commission (CFTC)
Which of the following classifications is NOT assigned to Bitcoin by a U.S. regulatory body?
Which of the following classifications is NOT assigned to Bitcoin by a U.S. regulatory body?
- Commodity
- Security (correct)
- Investment asset
- Currency
Flashcards
Cryptocurrency Regulation in the US
Cryptocurrency Regulation in the US
The US lacks a uniform regulatory framework for cryptocurrencies; different agencies (SEC, CFTC, Treasury) have differing interpretations.
SEC's View of Cryptocurrency
SEC's View of Cryptocurrency
The SEC generally considers many cryptocurrencies to be securities.
CFTC's View of Bitcoin
CFTC's View of Bitcoin
The CFTC classifies Bitcoin as a commodity.
Crypto Exchanges and Bank Secrecy Act
Crypto Exchanges and Bank Secrecy Act
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AML/CFT Obligations for Exchanges
AML/CFT Obligations for Exchanges
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Study Notes
US Cryptocurrency Regulation
- US lacks a clear regulatory framework for cryptocurrencies.
- SEC views crypto as securities, CFTC as a commodity, and Treasury as a currency.
- Crypto exchanges in the US fall under the Bank Secrecy Act (BSA) and must register with FinCEN.
- Exchanges must comply with anti-money laundering (AML) and combating the financing of terrorism (CFT) regulations.
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Description
Explore the complexities of cryptocurrency regulation in the United States. Understand the differing views of regulatory bodies like the SEC, CFTC, and Treasury, as well as compliance requirements for crypto exchanges. This quiz will shed light on current laws and frameworks governing cryptocurrencies.
