Digital currencies, whilst being an innovative payment method, poses several regulatory challenges in light of the possibilities to be used for a criminal purpose. This collaborative essay illustrates a brief report, which intends to provide for a general outlook on the UK’s effort in understanding the risks digital currencies pose to financial crime, money laundering, terrorist financing and cybercrime. This premise paves the way for ensuring the balance between protection of essential interests and innovation, most notably, in ensuring the implementation of the 5th Money Laundering Directive.
|Name||Northumbria Legal Studies Working Paper No. 2019/03|