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8 - UK Anti-money Laundering Regulation of Crypto-assets

from Part III - Regulations and Compliance of Digital Assets

Published online by Cambridge University Press:  06 March 2025

By
Pierre Ostercamp
Edited by
Reena Aggarwal  and
Paolo Tasca
Reena Aggarwal
Affiliation:
Georgetown University, Washington DC
Paolo Tasca
Affiliation:
University College London
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Summary

This chapter evaluates anti-money laundering (AML) regulation of crypto-assets in the UK with a focus on the UK implementation of the EU’s 5th Money Laundering Directive. The UK implementation had a broader scope than that required under the Directive; however, there was a lack of specific requirements and guidance on certain potentially higher-risk areas including privacy coins, mixers, and decentralised finance (DeFi). This chapter suggests that specific AML requirements and guidance on these potentially higher risk areas may help ensure the associated risks are effectively mitigated.

Keywords

Crypto-assetsmoney launderingregulationtravel ruleAMLUKEUFATF
Type
Chapter
Information
Digital Assets
Pricing, Allocation and Regulation
 , pp. 167 - 197
Publisher: Cambridge University Press
Print publication year: 2025

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