Is it illegal to trade cryptocurrency? Cryptocurrency exchanges are legal in the United States and fall under the regulatory scope of the Bank Secrecy Act (BSA). In practice, this means that cryptocurrency exchange service providers must register with FinCEN, implement an AML/CFT program, maintain appropriate records, and submit reports to the authorities.
Is crypto trading safe? Crypto held on an exchange or in a wallet is not FDIC-insured like money in the bank. Make sure you trade and hold your crypto on a platform that offers robust security measures — including keeping a significant amount of holdings in its own cold storage and two-factor authentication for users.
Is crypto legal in the US? As of June 2021, bitcoin was legal in the U.S., Japan, the U.K., and most other developed countries.
Do you need a license for crypto trading? If the company intends to operate as an intermediary in transactions concerning exchange of cryptocurrencies to real funds (cryptocurrency – fiat), it is required to obtain the Money Transmitter License.