UK:
HM Treasury Publishes Report On Digital Currency Standards
09 April 2015
Shearman & Sterling LLP
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On March 18, 2015, HM Treasury published a report detailing the
outcome to its call for information on digital currencies. The
report states that UK Government intends to improve standards and
clarity around digital payments, and the initiatives that it will
undertake will include: (i) applying anti-money laundering
regulations to digital currency exchanges; (ii) developing a set of
standards to enhance consumer protection; and (iii) ensuring that
law enforcement bodies are able to prosecute criminal activity and
confiscate digital currency funds where transactions are carried
out for criminal purposes.
The report is available at: https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/414040/digital_currencies_response_to_call_for_information_final_changes.pdf.
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