Broker-dealer compliance involves ensuring that firms acting as intermediaries in the buying and selling of cryptocurrency adhere to relevant regulations. These firms facilitate transactions between buyers and sellers, making compliance crucial for maintaining transparency and trust.The main responsibilities include conducting proper due diligence on clients, reporting suspicious activities, and ensuring adherence to anti-money laundering (AML) and know-your-customer (KYC) regulations. This helps prevent fraud, market manipulation, and other illegal activities.Broker-dealers also need to stay updated with evolving laws and guidelines from regulatory bodies. This can include maintaining accurate records, implementing risk management strategies, and ensuring that their business practices align with both national and international regulations.Compliance is essential not only for legal reasons but also for instilling confidence among users. Firms that effectively manage compliance can enhance their reputation, attract more clients, and contribute to the overall stability of the market.