Definition ∞ A virtual currency business is an entity that engages in activities involving the exchange, transmission, storage, or issuance of virtual currencies. This includes cryptocurrency exchanges, wallet providers, and other services facilitating transactions with digital assets. Such businesses are often subject to specific regulatory frameworks, including anti-money laundering (AML) and know-your-customer (KYC) requirements. They form a core part of the digital asset economy.
Context ∞ Crypto news frequently covers the evolving regulatory landscape for virtual currency businesses, with jurisdictions worldwide implementing varying licensing and compliance obligations. Enforcement actions against non-compliant businesses are common, highlighting the global effort to integrate digital assets into regulated financial systems. The discussion often centers on balancing innovation with consumer protection and financial stability concerns.
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