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Cryptocurrencies: Regulation

Question for HM Treasury

UIN 110111, tabled on 27 October 2017

To ask Mr Chancellor of the Exchequer, what steps his Department is taking to regulate (a) Bitcoin and (b) other crypto-currencies.

Answered on

3 November 2017

The UK government is currently negotiating amendments to the 4th Anti-Money Laundering Directive that will bring virtual currency exchange platforms and custodian wallet providers into Anti-Money Laundering and Counter-Terrorist Financing regulation, which will result in these firms’ activities being overseen by national competent authorities for these areas. The government supports the intention behind these amendments. We expect these negotiations to conclude at EU level in late 2017/early 2018.

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