Although the United States lifts the regulatory pressure over crypto currencies, Trump’s insane policies disrupt the global economic order. The trade war or the nuclear war is more close than ever. Trump says I must take the rest of death for survival. If we put Trump aside crypto coins iChina constitutes the legal framework.
Crypto Monetary Policy
SEC is now a different stance from his attitude during the Gensler period. He does not hate crypto currencies and aims to eliminate uncertainty by setting legal limits. Crypto currency Preventing fraud in the stock exchanges, stolen or illegal funds Crypto Wallets SEC took action for targets such as providing traceability.
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There are many basic components of politics. Necessary regulatory steps will be taken for them.
Authentication and wallet connection
There are three important details here. Compulsory KYC/AML policy requires that customer information is confirmed by wallet addresses when creating an account.
Within the scope of the travel rule, it will be mandatory for the stock exchanges to share customer information in transactions above a certain amount. Using Blockchain analysis tools, wallet movements will be monitored throughout more than one stock exchange, the relevant wallet clusters will be determined and the process flows will be followed professionally.
Other components
Systems that follow suspicious operations for the detection of fraud will be commissioned. Huge amounts of shots, interactions entered with high -risk wallets will be followed and so on and to reduce possible fraud cases. The wallets will be score of risks depending on the transaction history and the stock exchanges will be treated accordingly. Multi -factor verification will be mandatory. Especially for sensitive operations.
“Blockchain analysis platforms will be provided to law enforcement officers between wallets and stock exchanges.
Standardized processes will be created to collaborate with global regulatory institutions to declare fraud cases, to freeze suspicious accounts and to save stolen assets. ” – Second Crypto Task Force Policy Announcement
All stock exchanges operating in the United States will be registered as Securities Trade Trade Platform to SEC. Thus, the arrangements against fraud will be mandatory. The stock exchanges will be required to keep the transaction records in detail for 5 years.
To do
- Open KYC and AML requirements will be published for stock exchanges.
- If the prevention of fraud prevention measures are not complied with, the penalties will be determined.
- A partnership will be established with companies that offer advanced connection analysis tools to monitor wallet activities on Blockchain. SEC personnel will be given effective use of these vehicles.
- A secure database of the verified wallet addresses in connection with user identities will be created.
- Training campaigns will be organized for identity hunting attacks, wallet safety and fraud prevention.
- Cross -border crypto- In order to monitor the transactions, there will be cooperation with international regulators.
- It will be difficult for fraudulent actors to conceal their identities and carry the stolen funds unnoticed.
- Victims who have been fraudulent and coordinated monitoring efforts will increase the likelihood of reclaiming their stolen assets.
- Crypto currency Trust, transparency and accountability in its markets will increase because it will increase.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
