Compliance is crucial for establishing sensible crypto regulations in the United States. As the use of cryptocurrency grows, US regulators are tightening rules on reporting, trading, and more. However, the lack of understanding about crypto may lead to overly strict restrictions on digital assets. Blake Benthall, founder of compliance startup Fathom(x), suggests that crypto compliance companies can influence US regulations positively. Benthall, previously involved in an illicit online marketplace, worked with the FBI to crack down on illicit crypto activities. He emphasizes the need for nuanced regulation due to the complexities of crypto transactions. Vincent D’Agostino, a former FBI agent, highlights the confusion surrounding crypto regulations and urges companies to educate regulators. Major players like Coinbase and Binance are prioritizing compliance and working with regulators to set industry standards. Despite progress, challenges remain in dispelling outdated perceptions and ensuring responsible growth in the crypto industry. Read more AI-generated news on: https://app.chaingpt.org/news