#Techxit blockchain industry opposes transposition of EU 5AMLD into English law for crypto

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To stop the British government adopting harsh EU laws on crypto regulation we must act together now. The FCA has a Consultation Period open until 05.04.19 for blockchainers to respond to their Guidance on Cryptoassets (23.01.19). We can have an effect if we speak with one voice. By comparison to both the SEC in the US and EU legislation which are both hostile to crypto, Britain has the potential to be a friendly jurisdiction for the blockchain industry. Only we can keep it that way.

Brexit is an opportunity for Britain to make its own path separately from the EU. Currently Britain must transpose the EU 5AMLD into English law in 2019. But with Brexit we have a choice. That choice, if made correctly, can be the first step towards securing Britain as a friendly jurisdiction for the blockchain. Hence the hashtag #Techxit — a tech-focussed Brexit.

5AMLD as the EU applies it to crypto will crush blockchain innovation under a weight of regulation built for banks, which will price many blockchainers out of the British market and stifle the industry when it needs to grow. All we need is for the FCA and the Treasury to build tech solutions with us rather than impose EU legislation. The first step towards #Techxit is to secure an exemption from 5AMLD for what the FCA calls "cryptoassets".

CALL TO ACTION: Please write to the FCA: fcacrypto@fca.org.uk and share this call to action with interested parties and on social media.

If you do not have time to write your own letter I have attached here a one page form letter for you to customise with your details and send:


If you follow the fcacrypto@fca.org.uk link in the document it will generate an email to that address with the subject "#Techxit: blockchain industry opposes transposition of EU 5AMLD into English law – exemption for cryptoassets" to which you can attach the document.

Here is a government petition.
Please sign this change.org petition so we have our own record of contributors in case the government do not keep accurate records.
Here is a link on our blog.

Please come meet us in person to debate #Techxit at the launch of The Assembly, our blockchain tech accelerator.

Here is a link on facebook.

Next Thursday, 28.03.19 from 18:00 at:

The Assembly
Overlock Arts
18A Belsham Street
Hackney Central
E9 6NG


Laurenzo W. Mefsut
Founder & Trustee
The New Athens & Associates

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