Even as cryptocurrencies have become more widely accepted as an asset class, they have struggled to throw off their reputation of inhabiting a digital “Wild West” — a place where law and regulation rarely apply.
There are signs, though, that the lawless days of cryptocurrencies are coming to an end. And, as a result, companies marketing crypto assets — as well as digital services providers — are scrambling to avoid being taken to task by new regulatory requirements.
Cryptocurrency markets have grown fast since the beginning of the coronavirus pandemic, and the industry’s value has regularly exceeded $2tn, according to financial authorities.
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