08 Jul '13, 1pm

HMRC

HMRC

Bitcoin exchanges operating in the UK do not have to register with HM Revenue & Customs (HMRC) under money laundering regulations, the government department has revealed. In a letter to Joel Jean-Luc Dalais, director of soon-to-launch exchange FYB-UK, HMRC suggested it was keeping a close eye on bitcoin and said it may decide to change its stance in the future on how the digital currency is regulated. The letter from HMRC read as follows: “With reference to your enquiry at this time there is no requirement to register with HMRC under the Money Laundering regulations, however HMRC recognise that the issuing of Bitcoins represent an emerging development. We are currently in discussions with HM Treasury concerning this market and whether HMRC will be a Supervisor for this market. HMRC will be watching any developments relating to the Bitcoin market and may change our view, th...

Full article: http://www.coindesk.com/hmrc-uk-bitcoin-exchanges-dont-ha...

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