Britain launches new economic crime plan, including actions against cryptocurrency

The British government has issued a new economic crime plan (2019-2022) that includes actions against cryptocurrencies to ensure that these programs are not used for money laundering and other illegal activities. The plan shows that the government will include all cryptocurrency operations in anti-money laundering (AML)/terrorist financing (CTF) regulations in January 2020. The plan was signed by British Chancellor of the Exchequer Philip Hammond, Home Secretary Sajid Javid and other officials. As a national financial regulator, the Financial Market Conduct Authority (FCA) will oversee these regulations, which means it will introduce and maintain a “strong anti-money laundering regime” for cryptocurrency companies. Hammond said: "By bringing together leaders of government, law enforcement and business, we can better solve the problem of 'dirty money'."