Fiat exchanges are more difficult to set up than crypto-to-crypto exchanges due to increased reporting requirements from state and federal agencies.

Question

Quizplus · Accepted Answer

Fiat exchanges involve the buying and selling of cryptocurrencies with traditional currencies like USD or EUR, which makes them subject to stricter regulations and reporting requirements from government agencies. Crypto-to-crypto exchanges do not involve traditional currency and therefore have fewer regulatory reporting requirements.

Fiat Exchanges Are More Difficult to Set Up Than Crypto-To-Crypto