ETHERLive delivers real-time price and volume data across 16+ exchanges to users in a clear and easy-to-understand package. Users can get up-to-the-second updates for each exchange/currency pair, as well as aggregated market averages for each exchange, currency, and the market as a whole. It also provides a global converted average of all the currency pairs monitored by ETHNews, converted to USD.


24hr ---

The Basics

Learn the basics of Ethereum and various cryptocurrency technologies

Learn More

What is Ethereum?

Understand the underlying principles of the Ethereum Platform

Learn More

The Blockchain

Discover the revolutionizing technology known as the blockchain

Learn More

Press Release

Submit a press release for consideration on ETHNews

Submit Press

Story / Dapp

Submit a story or DAPP to be considered for publication on ETHNews.

Submit Story


Submit "Ethereum Explainer" content for consideration to be featured on ETHNews

Submit Topic
ETHNews Logo
Ether Price Analysis
Contact Us

UK Negotiates Cryptocurrency Amendments To EU Anti-Money Laundering Directive



De Silva

The United Kingdom is working to bring cryptocurrency trading platforms and wallet providers under the auspices of European Union regulation.

The government of the United Kingdom is discussing cryptocurrency-related amendments to the European Union's 4th Anti-Money Laundering Directive. Responding to an inquiry from MP Chris Evans (Islwyn) on the UK Parliament website, Stephen Barclay, economic secretary to Her Majesty's Treasury, explained:

"The UK government is currently negotiating amendments to the 4th Anti-Money Laundering Directive that will bring virtual currency exchange platforms and custodian wallet providers into Anti-Money Laundering and Counter-Terrorist Financing regulation, which will result in these firms' activities being overseen by national competent authorities for these areas. The government supports the intention behind these amendments. We expect these negotiations to conclude at EU level in late 2017/early 2018."

Formalizing EU-wide know-your-customer regulation for cryptocurrency could go a long way toward catching tax evaders and tracking the movement of illicit funds. After relevant legal standards are established, the next step could be hiring blockchain investigation firms. For example, in the United States, Chainalysis has been contracted by the Internal Revenue Service, among other government agencies.

British regulators, in particular, have been very forward-thinking in their approach to cryptocurrency.

First, in September 2017, the UK's Financial Conduct Authority (FCA) published a warning about the uncertainty of token offerings, which it called "very high-risk, speculative investments." Next, in an October 2017 report on its regulatory sandbox, the FCA shared that firms working with distributed ledger technology faced "pronounced" difficulties in obtaining banking services. Then, in November 2017, the FCA cautioned consumers about cryptocurrency contracts for differences, worrying about their opacity and potentially exploitative fee structures.

Given the flurry of activity by the FCA, it makes sense that the UK is leading the charge for cryptocurrency regulation throughout the European Union. Even as the president and vice president of European Central Bank scoff at cryptocurrency markets, some officials are closely monitoring the situation.

Matthew De Silva

Matthew has a passion for law and technology. He graduated from Georgetown University, where he studied international economics and music. Matthew enjoys biking and listening to tech podcasts. He lives in Los Angeles.

ETHNews is committed to its Editorial Policy

Like what you read? Follow us on Twitter @ETHNews_ to receive the latest United Kingdom, cryptocurrency or other Ethereum world news.