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The UK regulatory body is drafting new anti-money laundering rules, including enhanced cryptocurrency company regulation
BlockBeats News, September 5th, According to Decrypt, the UK Treasury this week released a draft of proposed revisions to the current anti-money laundering regulations, imposing stricter requirements on cryptocurrency firms. The Financial Conduct Authority will implement a broader "fit and proper person" test for company controllers, replacing the current beneficial owner test, to ensure regulation can cover complex ownership structures. Other provisions will lower the threshold for ownership change notifications from 25% to 10%, meaning that any acquisition of 10% or more of the shares or influential party must notify the UK Financial Conduct Authority. The UK Treasury is seeking feedback on the draft until September 30th, and the regulations will be finalized in early 2026 for parliamentary approval.
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