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Five Rules that Became Stricter for Crypto in 2019

Published 12/23/2019, 04:33 AM
Updated 12/23/2019, 05:41 AM
 Five Rules that Became Stricter for Crypto in 2019

Crypto trading is not what it used to be. In 2019, trader screening and passport requirements are the norm rather than the exception. Despite the presence of decentralized exchanges, and the recent decision of Poloniex to reintroduce email-only registrations, in 2019 the overall drive was for stricter regulations.

Here are the top 5 changes and restrictions for 2019.

OTC Trading Requiring KYC: LocalBitcoins is no longer a pseudonymous platform. From November onward, the firm complied with the regulations of Finland, and froze accounts that did not go through a KYC procedure. Using LocalBitcoins has been replaced by similar services, though in the end, regulations may affect all OTC markets.

Blockchain Analysis: Although still incomplete, regulators are preparing to track blockchains themselves. Currently, blockchain analysis remains a sporadic exercise, in 2020, there may be a requirement for more detailed tracking.

This article appeared first on Cryptovest

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