Written question asked by Lord Greaves (Liberal Democrat) on Monday, 11 December 2017, in the House of Lords. It was due for an answer on Wednesday, 27 December 2017. It was answered by Lord Bates (Conservative) on Thursday, 21 December 2017 on behalf of the Treasury.
Bitcoin
- Question
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To ask Her Majesty's Government what assessment they have made of the implications of the increasing trade in Bitcoin, and of the case for greater regulation of the trade of Bitcoin.
- Answer
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As with all policies, the government keeps its policy towards cryptocurrencies under review. For example, Government has recently published its National Risk Assessment of Money Laundering and Terrorist Financing, which included an examination of the risks associated with cryptocurrencies. The government is currently negotiating amendments to the European Anti-Money Laundering Directive which will extend regulation to virtual currency exchange platforms and custodian wallet providers. These amendments will enable competent authorities to ensure these firms are mitigating the risks regarding money laundering and terrorist financing. We expect these negotiations to conclude at EU level by early 2018, with a year for Member States to then implement the Directive.
Secondary information
- Type
- Written question
- Reference
- HL4032
- Session
- 2017-19
- Subjects
- Regulation Bitcoin
- Link
- View this Written question on www.parliament.uk
Librarians' tools
- Timestamp
- 2017-12-21 14:31:51 +0000
- URI
- http://data.parliament.uk/writtenparliamentaryquestion/lords/2017-19/HL4032
- In Indexing
- http://indexing.parliament.uk/Content/Edit/1?uri=http://data.parliament.uk/writtenparliamentaryquestion/lords/2017-19/HL4032
- In Solr
- https://search.parliament.uk/claw/solr/?id=http://data.parliament.uk/writtenparliamentaryquestion/lords/2017-19/HL4032