Cryptocurrencies have disrupted traditional banking systems by offering decentralized and peer-to-peer transactions without intermediaries.

The use of cryptocurrencies reduces dependence on banks and lowers transaction fees.

Cryptocurrencies improve financial inclusion, providing accessible banking services to the unbanked and enabling cheaper cross-border payments.

Regulatory challenges exist, particularly in enforcing anti-money laundering and know your customer regulations.

Governments worldwide are working to establish clear regulatory frameworks to balance innovation and stability.

Cryptocurrencies have reshaped the financial industry, requiring regulators to adapt to the opportunities and challenges they present.