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

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. Key Points for the Family Court Community: Adolescents are susceptible to cryptocurrency scams due to the link between adolescence, risk taking, and the risk found in trading cryptocurrency.Regulation of decentralized exchanges is needed, as they are places where children can purchase cryptocurrency as minors.Currently, there is no controlling legislation or regulatory authority with the necessary power to solve the problem.Age verification systems need to be mandatory for all cryptocurrency trades, and all exchanges should have mandatory Know Your Customer systems.The Securities and Exchange Commission should mandate that if a minor is going to purchase cryptocurrency, they should have a custodial account that can only be loaded with funds from the custodian of the account. [ABSTRACT FROM AUTHOR]