Justice Department tells federal agents to overlook minor cryptocurrency rule infractions

Crypto Unwittingly Violates Regulatory Requirements, Todd Blanche Says

A prominent figure in the cryptocurrency space has revealed that many digital asset projects are unwittingly violating regulatory requirements, highlighting the need for increased awareness and compliance.

Todd Blanche, a well-known blockchain consultant and expert, made the statement during a recent interview. According to Blanche, many cryptocurrency projects are not fully aware of the regulatory requirements they must comply with, leading to unintentional violations.

"It's not that they're trying to skirt the rules or do anything nefarious," Blanche said. "It's just that they don't have the necessary knowledge or resources to comply with the regulations in the first place."

Blanche pointed out that many cryptocurrency projects are created by individuals or small teams who may not have the expertise or resources to navigate the complex regulatory landscape. As a result, they may unintentionally violate regulations, such as those related to anti-money laundering (AML) and know-your-customer (KYC) requirements.

The lack of awareness and compliance with regulatory requirements can have serious consequences for cryptocurrency projects, including fines, penalties, and even the shutdown of their operations. Blanche emphasized the importance of increased awareness and compliance, particularly in light of the growing regulatory scrutiny of the cryptocurrency space.

"It's not just about being compliant; it's about being responsible," Blanche said. "Cryptocurrency projects have a responsibility to their users and stakeholders to ensure that they're operating in a way that's transparent, secure, and compliant with the relevant regulations."

Blanche's comments highlight the need for increased education and awareness among cryptocurrency projects about regulatory requirements and best practices for compliance. As the cryptocurrency space continues to evolve and grow, it's essential that projects are equipped with the knowledge and resources they need to operate in a responsible and compliant manner.