The Home Office said in a press release that new powers to help law enforcement agencies seize cryptocurrencies used for crime came into effect on Friday. The Home Office announced that as a result of these new rules, police in the country will no longer need to make arrests when seizing cryptocurrency holdings, which will make it easier to seize assets known to have been obtained by criminal means, even if sophisticated criminals can protect their anonymity or are overseas.
The new regulations come after the UK Parliament passed a crime bill last year, which laid the groundwork for faster confiscation of cryptocurrencies.
UK law enforcement agencies can now confiscate crime-related crypto assets without conviction
2024-04-26 00:58:54
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