UK cryptocurrency regulations have been the Financial Action Task Force (FATF) compliant, but it appears that the government may opt to monitor user wallets. To ensure money laundering is curbed, the Financial Conduct Authority (FCA) of the United Kingdom (UK) has proposed certain limitations for software programs that are built by crypto developers. The Anti-Money Laundering and Counter-Terrorism Financing regulations are expected to be extended for entities or institutions that are concerned with digital transactions and cryptocurrencies. These requirements will be enforced in the upcoming year. The regulations will also apply to companies that produce open-source software and those that
