UK Targets Crypto Crooks with New Economic Crime Plan
The UK Treasury and Home Office are flexing their muscles against crypto money launderers and fraudsters, unveiling a three-year Economic Crime Plan. The government aims to protect consumers, boost the economy, and make the UK a magnet for crypto innovation.
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With at least £1.24 billion in illicit crypto transactions linked to the UK in 2021, agencies like the Treasury, Home Office, CryptoUK, and the FCA are banding together to fight fraud, money laundering, and sanctions evasion.
As a reminder, back in December of 2022 the UK announced that it plans to strengthen the regulation of stablecoins.
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