Who is engaged as a business in the exchange of virtual currency for real currency, funds, or other virtual currency?

Who is engaged as a business in the exchange of virtual currency for real currency, funds, or other virtual currency?

• A. Administrator
• B. Exchanger
• C. User
• D. Regulator

Answer: (B)

In this context, the key idea is identifying the entity that routinely buys and sells virtual currency for real currency or other currencies as a business. This role is filled by an exchanger. An exchanger operates a platform or service that processes crypto-to-fiat or crypto-to-crypto trades, handling customer funds and converting value between currencies. Because of these functions, exchangers are typically regulated as money services businesses and must implement customer due diligence, transaction monitoring, and suspicious activity reporting. The other roles don’t describe a business actively performing exchanges: an administrator runs or maintains the platform but isn’t defined by exchange activity itself; a user is someone who uses the service; a regulator is a supervising authority.

In this context, the key idea is identifying the entity that routinely buys and sells virtual currency for real currency or other currencies as a business. This role is filled by an exchanger. An exchanger operates a platform or service that processes crypto-to-fiat or crypto-to-crypto trades, handling customer funds and converting value between currencies. Because of these functions, exchangers are typically regulated as money services businesses and must implement customer due diligence, transaction monitoring, and suspicious activity reporting. The other roles don’t describe a business actively performing exchanges: an administrator runs or maintains the platform but isn’t defined by exchange activity itself; a user is someone who uses the service; a regulator is a supervising authority.