The UK Treasury just announced that it is going to mull the Bitcoin currency as well along with some other virtual currencies. The anti-money laundering regulations will be updated further. This step has been taken to restrict the criminals from using the crypto-currency cash machines for the purpose of laundering money in London.There is a broader update coming up in the EU rules. The new rules though are yet under negotiation phase. The latest rule update was revealed in the parliament last month. The approval and implementation of this rule would restrict the traders from operating anonymously.

Dr. Garrick Hileman:

Well, Dr. Garrick Hileman is a Bitcoin expert and a researcher at the University of Cambridge, he expressed that the regulations in the New York for the crypto-currency are already really strict. So, it will be a better to make the announcement in London now. It will help the government to restrict the criminals from attempting money laundering in the shape of the crypto-currency. He added: "I think these announcements have a powerful signaling effect and put the industry on notice that the 'cop on the beat' is concerned and watching crypto-currencies more closely now,"

Det Supt Nick Stevens:

The Dep Supt Nick Stevens said: "Organized criminal groups have been early adopters of crypto-currencies to evade traditional money laundering checks and statutory regulations,"