UK Cracks Down on Money Laundering with £676M and Crypto Focus

The UK government has pledged £676M and deployed 500 officers as part of a major crackdown on money laundering. The move aims to target advanced crypto laundering tactics used by organized crime groups.

The National Economic Crime Centre warned about the innovative use of crypto assets for large-scale illicit funds laundering, with crypto assets ranking third among laundered assets in the UK.

In related news, Grayscale launched four model digital asset portfolios for financial advisors, combining multiple digital asset ETPs into diversified strategies. The move aims to bring crypto allocations to more advisors and their clients.