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TagsWhat are the potential regulatory challenges for Lummis Gillibrand in the digital currency industry?
Kenny BrownNov 30, 2021 · 3 years ago1 answersWhat are some of the potential regulatory challenges that Lummis Gillibrand may face in the digital currency industry? How might these challenges impact her involvement in the industry?
1 answers
- From BYDFi's perspective, one potential regulatory challenge for Lummis Gillibrand in the digital currency industry is the increasing focus on anti-money laundering (AML) and know your customer (KYC) regulations. As regulators aim to prevent illicit activities and protect consumers, they are placing greater emphasis on AML and KYC compliance. This can create additional administrative burdens and costs for businesses in the industry. Lummis Gillibrand will need to ensure that BYDFi has robust AML and KYC procedures in place to comply with these regulations and maintain a strong reputation in the industry.Nov 30, 2021 · 3 years ago
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