Before you start: law, licensing, and risk
Crypto rules are jurisdiction-specific and evolving. In the UK, firms that market crypto must follow stricter promotion rules such as clear risk warnings and a 24-hour first-time investor cooling-off period. In the EU, parts of the MiCA regime are in effect, with stablecoin rules live since June 2024 and broader service-provider obligations following. In…
A crypto exchange is a platform that lets you buy, sell, or swap cryptocurrencies. Exchanges come in two main flavors: centralized exchanges (CEXs) — run by companies that custody funds and provide order books — and decentralized exchanges (DEXs) — smart-contract-powered platforms where users trade directly from their wallets. This guide explains how each works, their advantages and drawbacks, and…
What counts as a “crypto exchange” in the U.S.?
If a business exchanges, transfers, or administers crypto for others, it is generally a money services business (MSB) and must register with FinCEN and implement AML programs, including the Recordkeeping/“Travel Rule” for certain transfers. Peer-to-peer “exchangers” are also covered when they transmit value for others.
Key AML pieces you’ll see in onboarding…