UK House of Lords passes bill to seize stolen crypto
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A bill that aims to expand the ability of authorities in the United Kindom to target illicit cryptocurrency usage has been pushed to the final stages for approval by the House of Lords.
The Economic Crime and Corporate Transparency Bill was
The U.K.’s financial regulator, the Financial Conduct Authority (FCA), recently revealed its willingness to work with crypto companies to develop a much-awaited regulatory framework for the industry.
In her speech at #CityWeek2023, Sarah Pritchard spoke about the regulation of #cryptocurrency and how effective early engagement can support regulation that benefits all. https://t.co/w6Zv6K5FP1
— Financial Conduct Authority (@TheFCA) April 25, 2023
Speaking at the London’s City Week conference, FCA Executive Director Sarah Pritchard said:
“Let’s work together, to shape our rules and regulations to benefit markets, consumers and firms as crypto goes from niche to mainstream.”
Pritchard noted the FCA’s responsibilities are limited to making sure that crypto firms that operate in the U.K. comply with Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) legislation.
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