UK authorities are preparing to introduce rules for controlling sites for trading digital money , turnover of a new type of assets and laundering of proceeds from crime.
Her Majesty’s Treasury (HTM) and Financial Services Authority (FCA) will discuss the adoption of the 5th European Union Directive on the Prevention of the Legalization of Illegally Gained Incomes and the Financing of Terrorism (5AMLD) on July 24 in the UK. The government of the country will study the requirements for the operation of cryptocurrency exchanges and the circulation of digital money.
On behalf of the crypto community, the responsible Bitlish financial monitoring officer, Christine Drabble, will speak. The meeting will allow to solve problems with market regulation based on the identified risks that blockchain industry faces.
Recall that in early May, the FATF Cryptocurrency Consultative Forum was held in Vienna. The event discussed how countries should develop AML / CFT regulations that can be applied to a wide range of services and trading platforms related to digital money.
At the end of the summit, the FATF organization issued new recommendations on how crypto companies should comply with the requirements for bank transfers, which are already used by other financial institutions.
Publication date 28.06.2019
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