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The Bank Secrecy Act (BSA) governs foreign currency transactions in the US. TD Bank recently settled for $1.8B for BSA & money laundering violations. IAS 21 outlines the accounting for foreign exchange rate changes. As the regulatory landscape evolves, compliance with BSA & proper accounting for FX rates remains crucial for financial institutions in 2024.

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Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.

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