Close

Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.

×

Status message

Start your free, no obligation 10-day trial to continue exploring with full access.

U.K. wants to regulate digital currencies

Jaclyn Jaeger | December 5, 2017

The U.K. government is looking to increase its regulation of digital currencies, amid growing concerns that such virtual currencies are being used to enable money laundering, terrorist funding, and other criminal activity.

Stephen Barclay, economic secretary for HM Treasury, said in a written parliamentary statement in November that the U.K. government is “currently negotiating amendments to the 4th Anti-Money Laundering Directive that will bring virtual currency exchange platforms and custodian wallet providers into Anti-Money Laundering and Counter-Terrorist Financing regulation, which will result in these firms’ activities being overseen by national competent authorities for these areas.”... To get the full story, subscribe now.