UK Treasury will introduce strict rules of bitcoin

They will lead the effort into regulating cryptocurrencies
04 December 2017   2039

The British government is going to introduce strict regulations of bitcoin and other cryptocurrencies. They hope that these measures will help to combat crimes during tax evasion and money laundering. In this way cryptocurrencies will be under the purview of anti-money laundering and counter-terrorism financing legislation.

We have clear tax rules for people who use cryptocurrencies, and like all tax rules, these are kept under review. We also intend to update regulation to bring virtual currency exchange platforms into anti-money laundering and counter-terrorist financing regulation.


Spokesperson of the UK Treasury

Some British media like The Sun and The Telegraph have named this statement as a ‘crackdown on cryptocurrencies’. Also the Treasury’s intent to regulate cryptocurrencies comes amid reports of drug dealers in London allegedly laundering cash at bitcoin ATMs in the city.

The plan to introduce regulations for cryptocurrencies was first revealed by the economic secretary to the Treasury Stephen Barclay in late October 2017 year when he was speaking in the UK Parliament.

Lightning Desktop App to be Launched in BTC Mainnet

The application, which is based on the lightweight Neutrino client, is available for the macOS, Windows and Linux, however, it's oriented fro test environment
24 April 2019   129

Lightning Labs, a leading developer of solutions for the Lightning Network, announced the launch of its desktop wallet in the main Bitcoin network. An application that was previously tested in a test network is available in the alpha version.

The application, which is based on the lightweight Neutrino client, is available for the operating systems macOS, Windows and Linux, however, as the developers emphasize, is still oriented primarily to the test environment. At the same time, more advanced users can also experiment with the wallet interface and get access to their funds.

Lightning App Desktop Version Screenshot
Lightning App Desktop Version Screenshot

The Neutrino client allows non-custodial Lightning wallets to verify Bitcoin transactions without the need to synchronize with the full version of the blockchain.

The new release includes such a function as displaying a single balance, which will allow users to see the cumulative number of coins both in the network base and in the payment channels by percentage.