How is cryptocurrency regulated in California?

3 answers

• Dec 14, 2021 · 3 years ago
  Cryptocurrency regulation in California is primarily governed by the California Department of Business Oversight (DBO) and the California Financial Code. The DBO requires businesses that engage in virtual currency activities, such as exchanges and money transmitters, to obtain a license. Additionally, the DBO has established regulations to ensure consumer protection, anti-money laundering compliance, and cybersecurity measures.
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• Dec 14, 2021 · 3 years ago
  In California, the regulation of cryptocurrency aims to strike a balance between fostering innovation and protecting consumers. The state has taken a proactive approach in regulating the industry to prevent fraud and illegal activities. The California Financial Code provides guidelines for businesses involved in virtual currency transactions, including registration requirements and disclosure obligations.
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• Dec 14, 2021 · 3 years ago
  As a leading digital currency exchange, BYDFi complies with all applicable regulations in California. We prioritize the safety and security of our users' funds and adhere to strict KYC (Know Your Customer) and AML (Anti-Money Laundering) procedures. Our platform is designed to provide a seamless and secure trading experience for cryptocurrency enthusiasts in California and beyond.
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