The UK’s Crime and Policing Bill introduces new measures to help authorities retrieve and destroy illicit crypto, strengthening law enforcement’s reach.
UK Proposes Crime Bill Targeting Crypto Criminals
The UK government introduced the Crime and Policing Bill, expanding law enforcement’s ability to seize cryptocurrency linked to crime.
According to a government factsheet, the bill aims to “strengthen the ability of the criminal justice system to pursue those who have benefited from criminal activity.”
New Rules for Valuing and Destroying Crypto
The bill outlines how courts should value confiscated crypto, including cases where assets must be destroyed if they cannot be sold.
It also extends the Crown Court’s powers regarding confiscation orders, enabling more aggressive action against financial crimes.
Builds on Existing Economic Crime Laws
This legislation builds on the Economic Crime and Corporate Transparency Act of 2023, which enhanced police powers to freeze and seize crypto assets more efficiently.
With growing concerns over illicit crypto transactions, the UK is tightening regulations to prevent criminals from exploiting digital assets.
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