The regulation around cryptocurrencies varies from country to country. While some countries have decided to take a hands-off approach and allow for the use of cryptocurrency without any additional regulations, others have taken a hard stance and restricted their use. In the United States, for example, the Securities and Exchange Commission (SEC) has issued warnings about the risk of investing in cryptocurrencies and has begun to regulate the industry. They have also put in place laws that require exchanges and wallets to register with the SEC as money services businesses. Certain states, such as New York, have also passed additional laws and regulations around cryptocurrency use. Other countries, particularly those in Europe and Asia, have also begun to regulate the industry in different ways. For example, many countries have implemented anti-money laundering (AML) regulations andKYC/AML requirements in order to protect investors and combat fraud.