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UK government announces 'robust' crypto regulation as part of economic crime plan

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The government of the United Kingdom has laid out plans to step up regulation of crypto assets in its efforts to respond to economic crime in the country.In a policy paper released on March 30, the U.K.

Treasury and Home Office said it planned to “robustly” regulate crypto to fight illicit use of digital assets. The focus on regulation was part of the government’s economic crime plan from 2023 to 2026, which also included pooling “the knowledge and abilities of law enforcement agencies” to review and strengthen how crypto assets involved in legal proceedings may be seized and stored.“These steps will be in keeping with our ambition to make the U.K.

an attractive destination for cryptoassets and cryptoasset innovation in the world,” said the plan. “Challenging as it is, effective cryptoasset regulation benefits everyone, including consumers and firms.”We’re coming for the corrupt elites and criminals that abuse our financial system.

New measures announced today to tackle economic crime to the policy paper, the U.K.

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