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<p>As the Chancellor announced at the Budget in March, the Government intends to bring
digital currency exchanges into the scope of anti-money laundering regulation. The
digital currency industry has highlighted the current lack of regulation as one of
the obstacles firms face when trying to get bank accounts in the UK. The new regulatory
regime will be designed to support firms’ access to these vital banking services,
and to foster an environment in which legitimate digital currency businesses can flourish
in the UK. The Treasury will consult on the detail of regulation shortly.</p><br /><p>The
Government has supported the crowdfunding industry by consulting on whether to extend
ISA eligibility to debt and equity crowdfunding and helping equity crowdfunding through
the tax efficient Enterprise Investment Scheme (EIS) – without which 24% of investors
say they would not have invested.</p>
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