UK Treasury Publishes Its Intervention into Cryptocurrency Sector in Newly Published Report Today
A new report published today by the UK government’s financial watchdog has revealed that crypto-currency firms have been included among the top money laundering risks from 2022 to 2023, alongside retail banks, wholesale banks, and asset managers.
According to the report, the UK is ramping up its efforts to clamp down on crypto-related crime.
In October 2022, UK police announced that they were rolling out crypto tactical advisors across the country to help seize digital assets suspected of being linked to criminal activity.
The National Police Chiefs’ Council reported that it had seized hundreds of millions of pounds worth of cryptocurrency from criminals.
Data from the newly published report shows that the FCA had 52 full-time equivalent financial crime staff working on anti-money laundering supervision from 2022 to 2023.Â
