The ministry of Finance of the United Kingdom provides for a stricter regulation of crypto-currencies

The british government plans to introduce strict regulations for crypto-currencies such as Bitcoin in order to combat crimes like tax evasion and money laundering.

The ministry of Finance wants to control the crypto-currencies

The ministry of Finance of the Uk will strengthen its efforts to regulate crypto-currencies. One might think that it is a new maneuver to assist banks in the country, but the goal is that the Bitcoin, for example, be placed under the applicable anti-money laundering and combating the financing of terrorism. A spokesman for the ministry of Finance said : “We have the tax rules clear for the people who use crypto-currencies, and like all tax rules, they are controlled. We also intend to update the regulation to incorporate the exchange platforms of virtual currency in the regulations on money laundering and the financing of terrorism. “


Measures to combat crime

The news was quickly broadcast on the mainstream media as a “repression” of crypto-currencies, while the truth is closer to the expected trend of regulatory acceptance of crypto-currencies, decentralized. In addition, the intention of the Treasury to regulate the crypto-currency is coming at a time when rumors according to which drug traffickers in London blanch of cash in atms of Bitcoin of the city. “If you are a drug dealer, local, atms are an effective way to quickly get cash,” said detective inspector Tim Short of the London Metropolitan Police.

The Times

“The reason Bitcoin was created was genuine and honest,” said detective inspector-in-chief Gary Miles, chief of operations for counter-fraud unit of the police of London. “But it seems to have been hijacked and exploited by some evil people “, he added.

Source : Cryptocoinsnews