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804336

registered interest
date	11/12/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Cryptocurrencies: Regulation
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what plans his Department has to regulate the use of cryptocurrencies in the UK.
tabling member constituency	Walsall North
tabling member printed	Eddie Hughes
uin	118581
answer	answer is ministerial correction date of answer 19/12/2017 answer text <p>The government has not made any formal assessment of the value to the UK of Bitcoin or other cryptocurrencies.</p><p> </p><p>The government is currently negotiating amendments to the European Anti-Money Laundering Directive which will extend regulation to virtual currency exchange platforms and custodian wallet providers. These amendments will enable competent authorities to ensure these firms are mitigating the risks regarding money laundering and terrorist financing, and enable the legitimate sector to grow. We expect these negotiations to conclude at EU level by early 2018, with a year for Member States to then implement the Directive.</p> answering member constituency North East Cambridgeshire answering member printed Stephen Barclay grouped question UIN 118579 question first answered 19/12/2017 14:05:17 answering member 4095 label Biography information for Steve Barclay
tabling member	4635 label Biography information for Eddie Hughes

797872

registered interest
date	30/11/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Cryptocurrencies: Regulation
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what assessment he has made of international efforts to regulate crypto-currencies; and whether his Department has any plans to regulate crypto-currencies in the UK.
tabling member constituency	East Yorkshire
tabling member printed	Sir Greg Knight
uin	116779
answer	answer is ministerial correction date of answer 08/12/2017 answer text <p>The Government has not made a formal assessment of the regulation of cryptocurrencies in other countries, though it is aware that industry has done so (for example https://bravenewcoin.com/news/icos-and-cryptocurrencies-a-rough-guide-to-global-regulation/) and, as with all policy, continues to monitor developments.</p><p>The Government is currently negotiating amendments to the 4th Anti-Money Laundering Directive that we expect to bring virtual currency exchange platforms and custodian wallet providers into the scope of Anti-Money Laundering and Counter-Terrorist Financing regulation. This will require such firms to conduct due diligence upon their customers, with their 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.</p> answering member constituency North East Cambridgeshire answering member printed Stephen Barclay question first answered 08/12/2017 08:25:56 answering member 4095 label Biography information for Steve Barclay
tabling member	1200 label Biography information for Sir Greg Knight

778760

registered interest
date	27/10/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Cryptocurrencies: Regulation
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what steps his Department is taking to regulate (a) Bitcoin and (b) other crypto-currencies.
tabling member constituency	Islwyn
tabling member printed	Chris Evans
uin	110111
answer	answer is ministerial correction date of answer 03/11/2017 answer text <p>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.</p> answering member constituency North East Cambridgeshire answering member printed Stephen Barclay question first answered 03/11/2017 12:45:08 answering member 4095 label Biography information for Steve Barclay
tabling member	4040 label Biography information for Chris Evans