While regulatory pressure on cryptocurrencies in the U.S. eases, Trump’s aggressive policies are destabilizing the global economy. The country faces unprecedented risks, with trade wars and nuclear tensions looming. Trump insists that he must unify all nations for survival. Setting aside Trump’s influence, the SEC is creating a legal framework for cryptocurrencies.
Cryptocurrency Policy
The SEC is adopting a different stance from its previous approach under Gensler. Rather than expressing disdain for cryptocurrencies, it aims to eliminate uncertainty by establishing clear legal boundaries. The SEC has initiated measures to prevent fraud in cryptocurrency exchanges and ensure the traceability of funds that are stolen or transferred illegally through cryptocurrency wallets.
The policy encompasses numerous essential components, with regulatory steps to be taken accordingly.
Identity Verification and Wallet Connection
Three critical details are highlighted here. Mandatory KYC/AML policies will require customer information to be verified and stored with wallet addresses during account creation.
Other Components
Systems that monitor suspicious transactions in real time will be implemented to detect fraud. Large withdrawals and interactions with high-risk wallets will be tracked to reduce potential fraud cases. Risk assessments based on wallet transaction histories will dictate how exchanges handle various accounts.
