Save the kids: The need for regulation of cryptocurrency to protect adolescents from fraud

Abstract

Abstract Cryptocurrency has become the new hot investment for young investors. Everyone wants to get in on the next cryptocurrency bubble, and there are those that want to exploit this excitement and exploit children. Influencers who have young audiences are pushing cryptocurrency investments onto their audiences and not fully educating them on the risks. To avoid this exploitation, The Securities and Exchange Commission should actively regulate decentralized exchanges where children purchase cryptocurrency, put age limit regulations into place, and require know your customer systems to verify that minors are not purchasing cryptocurrency without the consent of a guardian.