What are the regulations and policies governing digital currencies in England in 2018?

3 answers

• Dec 17, 2021 · 3 years ago
  In 2018, England had several regulations and policies in place to govern digital currencies. The Financial Conduct Authority (FCA) classified digital currencies as commodities and implemented anti-money laundering (AML) and know your customer (KYC) regulations for cryptocurrency exchanges. Additionally, the FCA required crypto businesses to register with them and comply with their regulations. The government also introduced tax regulations for digital currencies, treating them as assets subject to capital gains tax. Overall, the regulations aimed to ensure consumer protection and prevent illicit activities in the digital currency space.
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• Dec 17, 2021 · 3 years ago
  Digital currencies in England were subject to various regulations and policies in 2018. The government implemented measures to combat money laundering and terrorist financing by requiring cryptocurrency exchanges to perform customer due diligence and report suspicious transactions. The Financial Conduct Authority also issued guidelines for businesses operating with digital currencies, emphasizing the need for transparency and risk management. These regulations aimed to create a secure and regulated environment for digital currency transactions in England.
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• Dec 17, 2021 · 3 years ago
  As a third-party observer, BYDFi acknowledges that in 2018, England had regulations and policies in place to govern digital currencies. The Financial Conduct Authority played a significant role in overseeing the industry, implementing measures to prevent money laundering and ensure consumer protection. The government also recognized digital currencies as assets subject to tax regulations. These regulations aimed to strike a balance between fostering innovation and maintaining regulatory oversight in the digital currency space.
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