Wu Blockchain (@WuBlockchain): UK Treasury has released a draft amendment to anti-money laundering regulations, imposing stricter requirements on crypto firms. The Financial Conduct…
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UK Treasury has released a draft amendment to anti-money laundering regulations, imposing stricter requirements on crypto firms. The Financial Conduct Authority (FCA) will introduce a broader “fit and proper” test for company controllers, replacing the current beneficial ownership test. In addition, the threshold for control change notifications will be lowered from 25% to 10%, requiring any party acquiring 10% or more of shares or significant influence to notify the FCA. https://t.co/UMui7DO1RF