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Nope. They don't have a banking license so they are not banks so they are not regulated like banks. (Whether they should be regulated like banks is a different
by WJW 5y ago
Nope. They don't have a banking license so they are not banks so they are not regulated like banks.
(Whether they should be regulated like banks is a different question, and one that is still being debated)
- kolanos 5y agoWhile they're not regulated like a bank, nor should they be, since they're not a bank... They are regulated, such as by FinCEN [0] which imposes AML and KYC measures on all fintech (including crypto) companies operating within the United states. Additionally, since crypto is classified as securities in the U.S., I believe they are regulated by the SEC as well. [0]: https://www.fincen.gov https://www.fincen.gov
- miohtama 5y agoUnited States does not have regulation for cryptocurrencies. They also do not have classification for cryptocurrencies.