Cryptocurrencies: Regulation

HM Treasury written question – answered on 23rd March 2017.

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Photo of Grant Shapps Grant Shapps Conservative, Welwyn Hatfield

To ask Mr Chancellor of the Exchequer, what plans he has to regulate distributed ledger technology and cryptocurrencies in the current Parliament.

Photo of Simon Kirby Simon Kirby The Economic Secretary to the Treasury

We are currently negotiating amendments to the Fourth Anti-Money Laundering Directive. These amendments will extend the scope of Directive (EU) 2015/849 to include virtual currency exchange platforms and custodian wallet providers, which will enable competent authorities to ensure virtual currency networks are mitigating the risks regarding money laundering and terrorist financing. There are no current plans to regulate distributed ledger technology.

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