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UK Treasury Won't Seek AML Rules for Bitcoin Wallet Providers

Treasury

The #UKTreasury has said that it won’t seek to impose anti-money laundering (AML) rules on #digitalcurrency wallet providers in a bid to avoid overburdening those services.

The remarks were issued last week in a report that detailed the UK government's plans to tackle #moneylaundering and #terrorist financing risks more broadly. According to the report, the UK Treasury plans to bring digital currency exchange firms "into anti-money laundering regulation", reinforcing plans first announced last year.

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.

According to the new report, these companies will not have to face those kinds of requirements.....

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