Cryptocurrencies could be a great opportunity for vendors and payment intermediaries but, with a recent increase in enforcement actions by federal and state regulators, are they at risk for accepting them as a means of payments?

While cryptocurrency certainly represents an opportunity for vendors and payment intermediaries, their involvement with cryptocurrencies also brings legal and regulatory risks that merchants do not face when using other forms of payment.

According to estimates by the publication Chainalysis, which monitors cryptocurrency data, consumers used bitcoin for payments for a monthly average of $190.2 million in 2017, compared to $9.8 million per month in 2013.

Increased enforcement efforts

Cause for worry?