2013-07-06 HMRC: UK bitcoin exchanges don’t have to register under money launder

[zakoliverz]

http://www.coindesk.com/hmrc-uk-bitcoin-exchanges-dont-have-to-register-under-money-laundering-regulations/

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

[chipug]

They do cover their arses by basically saying if they change their minds, they don't have to inform you first, the onus is on you to register without prior warning.

[Mike Hearn]

Yes, but this is fantastic news for Bitcoin business in the UK. Exactly the right way to handle regulation of new technologies (i.e. let it grow then decide later). This sets a fantastic example for other countries and legitimises it as an approach. Now all we need is a willing UK bank ....

BTW this is on the same day that we learn about the new British school curriculum. It features mandatory lessons in computer programming from the start of high school, and tech/design classes that involve learning how to use 3D printers!

http://www.guardian.co.uk/education/2013/jul/08/new-national-curriculum-published

Pretty amazing. Feeling happy to be a Brit today (that's rare!)

Of course we'll see how much they follow through, but at least the intentions are good.

[kiko]

Well that was...unexpected!

I'm pretty tempted to get a tiny market stall somewhere in central London and just run a cash exchange all old-school like; "Geeeeeetyabitcoins, geeeeeeetyabitcoins here!"

Edit: OP are you sure the date is right on the thread title?

[Bitcopia]

I'm pretty tempted to get a tiny market stall somewhere in central London and just run a cash exchange all old-school like; "Geeeeeetyabitcoins, geeeeeeetyabitcoins here!"

Hahaha yes.  I'd come see you.

[chipug]

Yes, but this is fantastic news for Bitcoin business in the UK. Exactly the right way to handle regulation of new technologies (i.e. let it grow then decide later). This sets a fantastic example for other countries and legitimises it as an approach.

Pretty amazing. Feeling happy to be a Brit today (that's rare!)

Of course we'll see how much they follow through, but at least the intentions are good.

fully agree

I'm pretty tempted to get a tiny market stall somewhere in central London and just run a cash exchange all old-school like; "Geeeeeetyabitcoins, geeeeeeetyabitcoins here!"

if only you could do two for a pound....

[marcus_of_augustus]

Got City of London written all over this ....

[lunarboy]

Top up your oyster card with Bitcoins