What is the current regulatory environment for cryptocurrencies in Scotland and England?

1 answers

• May 01, 2022 · 3 years ago
  As a third-party observer, BYDFi acknowledges that the regulatory environment for cryptocurrencies in Scotland and England is constantly evolving. While there is no specific legislation in Scotland, cryptocurrencies are still subject to existing financial regulations. In England, the Financial Conduct Authority (FCA) has taken a proactive approach to regulate cryptocurrencies and has implemented measures to combat money laundering and terrorist financing. Cryptocurrency exchanges and businesses operating in England are required to register with the FCA and comply with anti-money laundering and know-your-customer (KYC) regulations. It's important for individuals and businesses to stay informed about the latest regulatory developments and ensure compliance to operate legally and securely in the cryptocurrency space.
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