Tag: licensing requirements for crypto wallets

Pain Points: Regulatory Gaps in Wallet Security In 2024, Chainalysis reported $1.2B in losses due to unlicensed wallet breaches. A notable case involved a European exchange bypassing Financial Action Task Force (FATF) Travel Rule compliance, resulting in frozen assets for 37,000 users. Common search terms like ‘legally compliant crypto storage’ and ‘wallet license penalties’ reflect…