While 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 mea

While 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