Currency Act 1982 It is still in force unamended. Currency Act 1982 The Currency Act 1982 (c 3) is an Act of the Parliament of the United Kingdom. Following Decimal Day in 1971, when the British monetary system changed from pound/shilling/penny to the metric £1 = 100p system, the new currency was known as the "new pound" and therefore the "new pence". By 1982, the use of "new pence" was out of use, and replaced with "penny". The Act sanctions the use of "penny" rather than "new penny" in common usage, such as on coins produced by the Royal Mint. The Act covers
Virtual currency law in the United States must register as a Money Services Business (MSB). The purpose of this legislation was to prevent financial exchanges from being used to launder money or finance crime, including terrorism. The European Central Bank has also recommended registering exchanges to "reduce the incentive for terrorists, criminals and money launderers to make use of these virtual currency schemes for illegal purposes". In spite of the BSA applying to VC exchanges and administrators, VC is still used to finance crime and launder money because not every transaction in VC networks are required to comply with the BSA and not every online exchange complies