What measures does the G20 watchdog suggest in their proposed crypto rules?

3 answers

• Dec 25, 2021 · 3 years ago
  The G20 watchdog has proposed several measures in their crypto rules to regulate the cryptocurrency market. These measures include stricter KYC (Know Your Customer) requirements, enhanced AML (Anti-Money Laundering) procedures, and increased transparency in transactions. The aim is to prevent money laundering, terrorist financing, and other illicit activities associated with cryptocurrencies. By implementing these measures, the G20 watchdog aims to create a safer and more secure environment for cryptocurrency users and investors.
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• Dec 25, 2021 · 3 years ago
  In their proposed crypto rules, the G20 watchdog suggests implementing stricter regulations on cryptocurrency exchanges. This includes mandatory licensing for exchanges, regular audits to ensure compliance with regulations, and the establishment of a framework for consumer protection. These measures are aimed at reducing the risk of fraud, hacking, and other security breaches in the cryptocurrency market. By enforcing these rules, the G20 watchdog aims to promote trust and stability in the crypto industry.
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• Dec 25, 2021 · 3 years ago
  As a leading digital currency exchange, BYDFi supports the measures proposed by the G20 watchdog in their crypto rules. We believe that stricter regulations and increased transparency are necessary to protect investors and ensure the long-term sustainability of the cryptocurrency market. BYDFi is committed to complying with all regulatory requirements and implementing best practices to provide a secure and reliable trading platform for our users. We welcome the G20 watchdog's efforts to establish a comprehensive regulatory framework for the crypto industry.
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