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
Bitget donates HK$12 million to support fire rescue and reconstruction efforts in Tai Po, Hong Kong
Bitget Spot Margin Announcement on Suspension of ELX/USDT Margin Trading Services
Enjoy perks for new grid traders and receive dual rewards totaling 150 USDT
Bitget Spot Margin Announcement on Suspension of BEAM/USDT, ZEREBRO/USDT, AVAIL/USDT, HIPPO/USDT, ORBS/USDT Margin Trading Services
