The need for robust regulatory frameworks in the crypto industry has intensified as providers seek to navigate a complex global landscape marked by varying regulations. The U.S. FBI has warned consumers about the risks associated with unregistered cryptocurrency services, emphasizing the importance of compliance with federal anti-money laundering regulations, including Know Your Customer (KYC) protocols. Meanwhile, U.S. lawmakers, including Senate Majority Leader Chuck Schumer, are pushing for crypto legislation to clarify regulations for the industry, with hopes for a bill to be signed into law by the end of 2024. Internationally, the OECD is working on including cryptocurrencies in financial information sharing agreements to combat tax evasion. Furthermore, concerns have arisen regarding the use of unregulated cryptocurrency platforms by criminal organizations, particularly for drug trafficking purposes, highlighting the urgent need for regulatory oversight to mitigate these risks. The EU's MiCA framework and increasing compliance costs for crypto businesses underscore the shifting regulatory landscape that providers must navigate.