UK Treasury seeks to improve anti-money laundering with cryptocurrency regulatory reform
The UK Treasury has released a consultation document on changes to anti-money laundering regulations, which will impact the regulation of cryptocurrency assets in various ways. The proposed changes stem from a review of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR) in 2022. The proposed changes aim for "smarter regulation": "This includes minimizing regulatory burdens and future-proofing regulation, making regulation a last resort rather than a first choice, and ensuring that regulatory agencies operate well, are responsive and accountable." The document adds, "Regulatory agencies can only be effective with strong regulatory systems in place."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
CandyBomb x PWT (Episode 2): Trade to share 45,000 USDT
Announcement on the removal of the "Signal Calls" feature from the app
[Initial listing] Bitget to list MAGNE.AI (MHA)
CandyBomb x DGAI (Episode 2): Trade to share 50,000 USDT
