The UK Treasury has released a consultation document on changes to anti-money laundering regulations, which will impact the regulation of cryptocurrency assets in various ways. The proposed changes stem from a review of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR) in 2022. The proposed changes aim for "smarter regulation": "This includes minimizing regulatory burdens and future-proofing regulation, making regulation a last resort rather than a first choice, and ensuring that regulatory agencies operate well, are responsive and accountable." The document adds, "Regulatory agencies can only be effective with strong regulatory systems in place."