UK will fight money laundering cryptocurrency companies

The UK government announced a new plan to combat economic crime for the years 2019-2022, which includes actions related to cryptocurrency.

In accordance with the plan, the UK government will ensure compliance with the rules on combating money laundering and the financing of terrorism (AML / CFT) by cryptocurrency companies by January 2020.

“The goal of these actions is not only to keep up with the latest international standards, but also to give one of the most comprehensive answers in the world to the use of cryptoactive assets for illegal activities,” the document says.

The UK Financial Supervision Authority (FCA), which oversees financial activities in the country, will monitor the implementation of the plan and ensure that AML / CFT rules are complied with by cryptocurrency companies.

“By combining government leaders, law enforcement and business, we can better deal with the problem of money laundering,” said British Treasury Secretary General Philip Hammond.

Earlier this month, it was reported that the UK financial regulator plans to ban cryptocurrency-based derivatives to protect investors from financial damage.

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