Summary
- The UK Treasury said it is pursuing measures to tighten anti-money-laundering regulations for virtual assets operators.
- The amendment reportedly includes strengthened beneficial owner screening criteria and an obligation to report to the Financial Conduct Authority when acquiring a stake of 10% or more.
- The measure was said to be intended to enhance market transparency and strengthen the anti-money-laundering framework.
The UK Treasury is pursuing measures to tighten anti-money-laundering regulations for virtual asset (cryptocurrency) operators.
On the 4th (local time), crypto-focused media Decrypt reported that the Treasury recently published a draft amendment to the anti-money-laundering regulations, and the draft includes provisions that impose stricter requirements on virtual asset operators.
In particular, beneficial owner screening criteria have been strengthened. According to the amendment, anyone acquiring a 10% or greater stake or exercising significant influence must report to the Financial Conduct Authority (FCA).
The Treasury said it will accept feedback on the draft until September 30 and aims for parliamentary review in early 2026. The move is interpreted as aiming to strengthen transparency in the virtual asset market and the anti-money-laundering framework.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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