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UK Treasury plans to regulate Bitcoin

Thursday 19 March 2015 00:07 CET | News

The UK Treasury has revealed plans to launch a series of initiatives dealing with digital currency.

The report released is largely positive towards digital currencies, noting its potential as a payments technology, while also underlining its nascent state and the potential risks associated with its use.

The government also plans to apply anti-money laundering (AML) regulations to digital currency exchanges. The government will ask for feedback on crucial questions like who should fall under mandatory regulation and which institution should play the role of regulator.

The planned consultation will also cover law enforcement, to ensure that tools and legislation are in place to identify and prosecute criminal users of digital currencies and that illicit funds can be seized.


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Keywords: Bitcoin, online payments, digital payments, cryptocurrencies, UK
Categories: DeFi & Crypto & Web3
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Countries: World
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DeFi & Crypto & Web3






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