On Tuesday 24th July, CryptoUK members travelled to the FCA’s offices in Stratford to discuss their experiences of maintaining compliance with anti-money laundering regulations, and preparedness to comply with the upcoming implementation of the Fifth Anti-Money Laundering Directive (5MLD).

As part of the roundtable discussion, CryptoUK sought to outline the key challenges and considerations the FCA should be aware of as 5MLD comes into effect in January 2020, including the need to communicate changes with smaller firms who do not necessarily have the resources to keep up-to-date with new obligations. The discussion was part of an ongoing series of conversations between CryptoUK and the regulator, aimed at ensuring the UK’s cryptoasset industry can grow and help inform policy and regulation going forward.