The remarks were issued in a report that detailed the UK governments plans to tackle money laundering and terrorist financing risks more broadly.
However, an outstanding question at the time related to whether these rules would extend to wallet services that do not offer fiat-to-digital exchange functionality.
The government appears to be taking the position that AML rules will not be levied on other companies working in the digital currency space beyond wallet services, as well.
The report goes on to note that, following a review of feedback from law enforcement, academic and government sources, evidence points to a low level of illicit activity in digital currency networks – a possible factor in the regulatory approach outlined.
The government said in the report that it will also encourage information sharing among agencies, a process that would include exchanging data on new forms of transactions such as online banking and virtual currencies.
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