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UK Crime Agency warns crypto could be used for laundering

The UK agency ranks cryptoassets third among nine economic crime priorities and says it wants to set its own enforcement targets.

Reported · Written up by our desk · Regulation

The UK’s Crime Agency has warned that cryptoassets can be used in innovative ways by launderers, signaling continued focus on illicit finance risks.

According to Decrypt, the agency placed cryptoassets as the third priority among nine economic crime areas, and it said it wants to generate its own targets to guide enforcement.

The warning also indicates the agency expects crypto to remain a material part of its economic crime strategy, alongside other categories of wrongdoing.

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