United Kingdom plans tighter regulation of bitcoin

UK Treasury is planning tighter regulation of bitcoin, hoping to prevent the likes of money laundering and terrorism being paid for with cryptocurrency.

The British government is mounting a crackdown on bitcoin amid rising concerns about money laundering and tax evasion, with UK Treasury revealing it is looking into regulating cryptocurrencies.

Treasury said it intends to regulate the digital currency to bring it in line with anti-money laundering and counter-terrorism financial legislation.

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