CCA Regulatory Compliance & Reporting

Question 1

What is the primary goal of cryptocurrency regulation?

Accepted Answer

To ensure legal compliance and investor protection

Answer

To raise coin prices

Answer

To discourage innovation

Answer

To centralize all currencies

Question 2

Which U.S. agency plays a key role in crypto regulation?

Accepted Answer

SEC

Answer

FAA

Answer

CDC

Answer

FDA

Question 3

What is a key component of AML compliance in crypto?

Accepted Answer

Know Your Customer (KYC)

Answer

Smart contract execution

Answer

Coin burning

Answer

Mining algorithms

Question 4

Why is transaction reporting important in cryptocurrency auditing?

Accepted Answer

To monitor and verify financial activity

Answer

To update firmware

Answer

To improve app speed

Answer

To promote NFTs

Question 5

Which regulation requires financial institutions to report large or suspicious transactions?

Accepted Answer

Bank Secrecy Act

Answer

Freedom of Information Act

Answer

Digital Privacy Law

Answer

Data Monetization Code

Question 6

What is the role of regulatory audits in cryptocurrency firms?

Accepted Answer

To review compliance and internal processes

Answer

To calculate mining rewards

Answer

To automate smart contracts

Answer

To create new tokens