The UK Treasury has released a draft amendment to anti-money laundering regulations, imposing stricter requirements on cryptocurrency companies. The Financial Conduct Authority (FCA) will implement a broader "fit and proper" test for company controllers, replacing the current beneficial owner test. Additionally, the threshold for notifying the FCA of changes in control will be lowered from 25% to 10%. Any party acquiring 10% or more of shares or exerting significant influence must notify the FCA. The Treasury is seeking feedback on the draft until September 30, with final regulations expected in early 2026 for parliamentary review.