#2026/621UK Anti-Money Laundering and Terrorist Financing Amendment Regulations 2026
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This regulation updates the UK’s anti-money laundering rules, with a clear focus on cryptoasset businesses, pooled accounts, and customer due diligence. It changes references from euros to sterling, adds cryptoasset business definitions, and brings more crypto activity into the existing compliance framework. Crypto exchanges, custodian wallet providers, banks, payment firms, and other regulated businesses should review onboarding, customer checks, pooled account controls, and change-in-control processes. Some crypto-related enhanced due diligence rules start later, including from February 2027 and October 2027, giving firms time to update systems and governance.
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Key Changes
- Adds and updates rules for cryptoasset businesses under the UK anti-money laundering framework
- Replaces certain euro-based references and thresholds with sterling-based references
- Introduces enhanced due diligence and change-in-control provisions affecting cryptoasset exchange and wallet providers
Obligations
What this law requires
Regulated businesses must apply monetary thresholds and currency references in the amended 2017 Money Laundering Regulations using sterling instead of euros where the Regulations substitute those terms.
Cryptoasset exchange providers and custodian wallet providers must implement enhanced customer due diligence measures for correspondent relationships under new regulation 34A.
Registered cryptoasset businesses must comply with the substituted Schedule 6B requirements on changes in control, including the new introductory/control-related provisions that take effect 21 days after the Regulations were made.
Registered cryptoasset businesses must comply with the remaining substituted Schedule 6B change-in-control requirements once they take full effect.
Businesses brought within the new definition of cryptoasset business under regulation 64B must treat themselves as subject to the relevant Money Laundering Regulations 2017 compliance framework where applicable.