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Module 5 - Legal, Regulatory, and Ethical Considerations

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Module 5 - Legal, Regulatory, and Ethical Considerations

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Questions and Answers

Which of the following agencies in the United States is primarily responsible for regulating securities, including certain cryptocurrencies?

CFTC

SEC (correct)

FinCEN

IRS

What is a key feature of Proof of Stake (PoS) compared to Proof of Work (PoW)?

PoS requires solving complex mathematical problems.

PoS selects validators based on the number of tokens they hold. (correct)

PoS has higher energy consumption than PoW.

PoS does not require any validators.

Which regulation in the European Union focuses on data protection and privacy?

MiCA

GDPR (correct)

AMLD5

PSD2

A 51% attack refers to:

A scenario where miners control 51% or more of the network's hash rate. Signup and view all the answers

Which of the following is NOT considered a common threat to blockchain security?

Secure coding standards Signup and view all the answers

Zero-knowledge proofs in blockchain are used to:

Verify transactions without revealing underlying data. Signup and view all the answers

What is the primary goal of Anti-Money Laundering (AML) regulations in the context of blockchain?

To prevent illegal activities and money laundering. Signup and view all the answers

Which country has implemented a ban on cryptocurrency exchanges and ICOs while promoting blockchain technology for specific use cases?

China Signup and view all the answers

Environmental concerns with blockchain technology are primarily associated with:

The high energy consumption of Proof of Work. Signup and view all the answers

Financial inclusion through blockchain technology aims to:

Provide financial services to unbanked and underbanked populations. Signup and view all the answers