UK Grants Law Enforcement Powers to Seize £1 Billion in Criminal Crypto Assets
The United Kingdom has granted law enforcement new powers to combat crypto crime, allowing them to seize, freeze, and even destroy cryptocurrencies associated with criminal activities. This move aims to address the issue of over £1 billion in illegal crypto transactions occurring annually in the UK, with drug dealers, fraudsters, and terrorists using crypto to conceal and raise funds. The National Crime Agency and police now have expanded authority to seize and freeze criminal cryptocurrency holdings without arrests, as part of efforts to enhance investigations and combat illicit activities.
Sources
Bitcoin News
NEW: 🇬🇧 UK “Police will no longer be required to make an arrest before seizing crypto from a suspect. This will make it easier to take assets which are known to have been criminally obtained, even if sophisticated criminals are able to protect their anonymity or are based… https://t.co/0SsJWCZj1V
Phil Harper As we understand, the UK police and authorities can now seize crypto assets without even making an arrest. Read this twice and make sure you understand it. "Police will no longer be required to make an arrest before seizing crypto from a suspect." https://t.co/W9jECizzQP https://t.co/EF0moryaOR
Crypto Town Hall UK ENHANCES LAW ENFORCEMENT POWERS TO SEIZE CRYPTO The UK has implemented new regulations empowering law enforcement to seize crypto linked to criminal activities without requiring an arrest. These changes, stemming from a crime bill passed last year, aim to expedite the process… https://t.co/MGQgBwycNB
Bitcoin.com News A new law enabling the National Crime Agency and police to seize, freeze, and destroy #crypto assets is now in effect in the UK. https://t.co/Z56dFm8w7U
- Bitcoin.com News
New UK Law Empowering Authorities to Seize and Destroy #Crypto Assets Takes Effect Today https://t.co/Z56dFm8w7U
Cointelegraph UK police can now seize and freeze criminal crypto assets without making arrests. Do you agree with this? 🤔 https://t.co/K11yX4x6Zj
- Cointelegraph
The United Kingdom’s National Crime Agency and police now have expanded authority to seize and freeze criminal cryptocurrency holdings without arrests. https://t.co/cv972WSZL6
Metaverse Post Ⓜ️ 🔥 British police have been granted the authority to seize cryptocurrencies without making arrests. The UK's National Crime Agency and police have been granted authority to "seize, freeze, and destroy" cryptocurrency used by criminals. 📢 As part of investigations, law… https://t.co/JYfkiBeqpE
Home Office Over £1 billion in illegal crypto transactions take place in the UK each year. Drug dealers, fraudsters and terrorists use crypto to hide and raise money. We’re giving law enforcement new powers to seize, freeze and destroy crypto assets. https://t.co/nSGXsjsJpC
Satoshi Club 🚨 UK law enforcement granted new powers to tackle crypto crime. Effective today, police can seize, freeze, and even destroy cryptocurrencies linked to criminal activities. New regulations also allow seizure of digital data aids like passwords and memory sticks.