Mapping the Intersection of Cryptocurrency Exchanges, Users, and Regulation

加密货币交易所的出现为大众开发了一条方便的途径和获得加密货币的途径。目前，交易所被委托在全球范围内为价值数百万美元的资金提供日常便利。然而，它们的快速传播和隐藏使交易所成为犯罪分子和网络攻击的诱人目标。这可以归因于许多因素，包括长期缺乏全球协调，标准化和合适的法律的框架，全面涵盖加密货币的各个方面。大多数现行的国内和区域法规都包括反洗钱（AML）和打击恐怖主义融资（CFT）规则，但往往忽视了其他迫切需要干预的重要领域，如消费者保护、金融犯罪、隐私和安全合规。作为一开始，监管机构匆忙实施了同样的反洗钱/打击资助恐怖主义措施，以适应传统的金融/银行系统，到不同的加密货币环境。这会带来重大的隐私和网络安全风险，因为交易所的法律的和安全合规水平尚不清楚/未知。由于监管缺陷，以及缺乏适当的法律的和安全合规性，不仅交易所成为网络犯罪的受害者，而且许多交易所很容易为此类犯罪提供便利。另一方面，消费者正日益成为这些犯罪、攻击和交易所自律所带来的其他风险的主要受害者。在这篇论文中，我们的目标是研究和揭示加密货币领域内交易所、消费者/用户和监管机构之间的交叉所产生的多维因素和风险。这将通过采用多学科和跨学科的研究方法来实现，包括法律的，计算机科学和犯罪科学的研究工具。这项研究的主要目标是：1）提供科学证据，以帮助立法者在决策过程中;考虑到研究和评估新通过的法规（如加密资产市场法规（云母））的充分性，这一点尤其如此和其他反洗钱/打击资助恐怖主义政策; 2）协助执法机构查明可能吸引犯罪分子和/或充当犯罪便利者/渠道的潜在交易所; 3）倡导根据问责、责任、合规、透明和隐私原则为消费者创造一个更安全的环境。

The advent of cryptocurrency exchanges developed a convenient route and access to cryptocurrencies for the mass population. Currently, exchanges are entrusted with the safekeeping and the daily facilitation of millions worth of funds on a global scale. However, their rapid propagation and prospering turned exchanges into attractive targets for criminalsand cyberattacks. This can be attributed to many factors, including the long-lasted absence of globally coordinated, standardised, and suitable legal frameworks, comprehensive of all aspects covering cryptocurrencies. Most current domestic and regional regulations comprise Anti-Money laundering (AML) and Countering the Finance of Terrorism (CFT) rules, and often neglect other vital areas that urgently mandate intervention, such as consumer protection, financial crime, privacy, and security compliance.The ramifications attributed to this abundant situation are numerous and diverse. As a start, regulators rushed into imposing the same AML/CFT measures tailored to suit the conventional financial/banking system, onto the divergent environment of cryptocurrencies. This poses major privacy and cybersecurity risks, as the level of legal and security compliance of exchanges is unclear/unknown. Due to regulatory shortcomings, and lack of proper legal and security compliance, not only exchanges are becoming victims of cybercriminals, but many can easily facilitate such crimes. Consumers, on the other hand, are growingly turning into the prime victims of these crimes, attacks, and sundry other risks arising from the self regulation of exchanges.In this Ph.D. thesis, we aim to study and unravel the multidimensional factors and the risks arising from the intersection of exchanges, consumers/users, and regulators within the cryptocurrency sphere. This will be achieved by employing both multidisciplinary and interdisciplinary research methods that incorporate legal, computer science, and crime science research instruments.The primary goals of this research are 1) to produce scientific evidence that would aid legislators in the policymaking process; this is especially true in light of studying and assessing the adequacy of newly adopted regulations such as the Markets in Crypto-Assets regulation (MiCA) and other AML/CFT policies; 2) assist law enforcement agencies in identifying potential exchanges that might appeal to criminals, and/or acting as crime facilitators/channels; 3) advocate the creation of a safer and secure environment for consumers based on the principles of accountability, liability, compliance, transparency, and privacy.