UK's Prime Minister to Seriously Look at Action on Bitcoin

It seems that authorities in the UK have also made a statement regarding cryptocurrencies. The prime minister of the country, Theresa May, has talked about cryptocurrencies in an interview with Bloomberg. She said that she will be very seriously looking into bitcoin.

Theresa May: Cryptocurrencies might be used for criminal activity

May raised some concerns regarding the potential of criminals using cryptocurrencies for illegal activities such as money laundering. During the interview, May said that "we should be looking at these very seriously." The prime minister of UK went on to say that regulation might be needed "precisely because of the way they are used, particularly by criminals."

Not much has been revealed by May regarding what actions the UK government might be having in mind when it comes to cryptocurrencies.

However, some analysts have claimed that Theresa May and the UK government might find inspiration in the actions of South Korea, which has this week announced that it will ban anonymous cryptocurrency trading. The aim of this ban is to make sure that cryptocurrencies, including bitcoin, will not be used for criminal activity.

What is important to mention in this context is that for the moment there has been no official position from the UK government regarding the cryptocurrency market. This means that authorities have revealed no specific areas in which they plan on intervening and no specific points that might be regulated. The only thing certain for the moment is that authorities will be looking into the market.