Ali Tariq 7 Questions 2 Answers 0 Best Answers 24 Points View Profile 0 Ali Tariq Asked: April 30, 2019In: Cryptocurrency Has management given proper consideration to the global nature of cryptocurrencies? 0 Share Facebook 1 Answer Voted Oldest Recent Adeela Aslam 5 Questions 1 Answers 0 Best Answers 22 Points View Profile Adeela Aslam Added an answer on April 30, 2019 at 6:03 pm Bitcoin is arguably the first monetary vehicle that can efficiently be transacted and settled on a global basis without an intermediary. As mentioned above, companies need to see that proper responsibility is defined internally to oversee the various global jurisdictions where the company may face exposure. With the decentralized technology underpinnings of cryptocurrencies, there is no centralized or regulated oversight of the currency itself. User identification and verification are not native and, as such, management will need to consider proper know-your-customer and anti-money laundering (KYC/AML) compliance. Companies also need to consider how various national regulatory regimes are weighing different standards and rules to deal with cryptocurrencies and the surrounding ecosystem, which increases overall regulatory uncertainty. 0 Reply Share Share Share on Facebook Share on Twitter Share on LinkedIn Share on WhatsApp Leave an answerLeave an answerCancel reply Featured image Select file Browse Save my name, email, and website in this browser for the next time I comment.