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UK Government response to the call for evidence on digital currencies

The UK government received over 120 responses to its initial call for information on cryptocurrencies (we participated). This document summarises the submissions received and outlines the government’s views and proposed next steps.

At Budget 2015, the government is announcing the following: the government intends to apply anti-money laundering regulation to digital currency exchanges in the UK, the government will work with BSI (British Standards Institution) and the digital currency industry to develop voluntary standards for consumer protection the government is launching a new research initiative which will bring together the Research Councils, Alan Turing Institute and Digital Catapult with industry in order to address the research opportunities and challenges for digital currency technology, and will increase research funding in this area by £10 million to support this

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bitcoin, blockchain, crypto currencies