The new legislation in the UK, known as the Economic Crime and Corporate Transparency bill, has recently been enacted to enhance the powers of law enforcement agencies in seizing, freezing, and recovering cryptocurrency assets linked to criminal activities such as money laundering, drug trafficking, and cybercrime.
This move aims to streamline the processes involved in tackling economic crimes involving digital assets. The law allows for quicker actions against illicit crypto activities without requiring a conviction, promising more effective measures against financial crimes
This move aims to streamline the processes involved in tackling economic crimes involving digital assets. The law allows for quicker actions against illicit crypto activities without requiring a conviction, promising more effective measures against financial crimes
UK Law Enforcement Agencies Can Now Seize Crypto More Easily as New Rules Take Effect
Law enforcement agencies will no longer need to wait for an arrest to seize crypto.
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