CryptoUK Response to Draft Money Laundering and Terrorist Financing (Amendment and Miscellaneous Provision) Regulations 2025 (“the Statutory Instrument” , “the Draft SI”)
CryptoUK and its members have submitted a formal response to HM Treasury’s Draft Statutory Instrument on Money Laundering and Terrorist Financing (Amendment and Miscellaneous Provision) Regulations 2025. Representing over 100 leading companies in the UK cryptoasset sector, our response welcomes the government’s proportionate approach, ensuring that crypto firms are not subject to more onerous requirements than traditional financial institutions.
Our members have highlighted three key areas where further clarity and proportionality would strengthen the proposed regulations:
- Transitional Arrangements: A minimum 18–24 month implementation period to ensure firms can adapt to new obligations effectively.
- Change in Control Regime: Retention of the 25% threshold for Money Laundering Regulation (MLR)–registered cryptoasset firms, consistent with existing frameworks.
- FCA Guidance: Clearer direction on how the FCA’s change in control guidance (FG24/5) applies to cryptoasset businesses.
CryptoUK extends thanks to member firms B2C2 and Charles Russell Speechlys LLP for their valuable contributions to this consultation response.
Click here to download the full policy response PDF to read our detailed recommendations and analysis.
