On 4 February 2020, the Joint Money Laundering Steering Group (JMLSG) published the text of proposed revisions to Parts I, II and III of its guidance on the prevention of money laundering and the financing of terrorism for the UK financial services. The proposed revisions take account of The Money Laundering and Terrorist Financing (Amendment) Regulations 2019 which came into force on 10 January 2020.

The JMLSG is also developing a new section in Part II of its guidance to provide sector specific guidance for cryptoasset exchanges and custodian wallet providers. The JMLSG intends to publish this for consultation by the end of February 2020.

The deadline for comments to the revisions is 3 April 2020.