CBE Blockchain Governance and Regulatory Compliance

Question 1

Which US regulatory body primarily oversees cryptocurrency exchanges and classifies many tokens as securities?

Accepted Answer

SEC

Answer

CFTC

Answer

FinCEN

Answer

OCC

Question 2

What is the primary purpose of on-chain governance in a blockchain network?

Accepted Answer

To allow token holders to vote on protocol upgrades directly via the blockchain

Answer

To enable miners to approve all transactions

Answer

To let developers push updates without community input

Answer

To enforce KYC requirements automatically

Question 3

The Bank Secrecy Act (BSA) requires US crypto businesses to implement which compliance program?

Accepted Answer

AML/KYC

Answer

GDPR

Answer

PCI-DSS

Answer

HIPAA

Question 4

Which governance model uses a foundation or small committee to make protocol decisions, rather than broad token holder voting?

Accepted Answer

Off-chain governance

Answer

On-chain governance

Answer

Delegated governance

Answer

Liquid democracy

Question 5

What does FinCEN require of US-based cryptocurrency 'money services businesses' (MSBs)?

Accepted Answer

Registration with FinCEN and adherence to AML/CTF rules

Answer

SEC registration as broker-dealers

Answer

CFTC licensing as commodity pools

Answer

Federal Reserve approval for all transactions

Question 6

In blockchain governance, what is a 'hard fork' typically used to resolve?

Accepted Answer

Irreconcilable protocol disagreements that split the community

Answer

Minor bug fixes that are backward compatible

Answer

Increasing block rewards temporarily

Answer

Reducing transaction fees for a short period