The European Union and the United Kingdom have introduced significant regulatory changes to combat money laundering and criminal activities involving cryptocurrencies. The EU has enacted new anti-money laundering measures that will enforce stricter Know Your Customer (KYC) standards and controls on the crypto industry. Concurrently, the UK has implemented new laws granting law enforcement agencies, including the National Crime Agency and local police, enhanced powers to seize, freeze, and destroy cryptocurrencies linked to criminal activities without the need for an arrest, effective from Friday. These changes are part of a broader effort to tackle the estimated over £1 billion in illegal crypto transactions occurring annually in the UK, often linked to drug trafficking, fraud, and terrorism. The new regulations also allow the seizure of digital data aids like passwords and memory sticks.
New UK Law Empowering Authorities to Seize and Destroy #Crypto Assets Takes Effect Today https://t.co/Z56dFm8w7U
UK police can now seize and freeze criminal crypto assets without making arrests. Do you agree with this? 🤔 https://t.co/K11yX4x6Zj
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
#WorthReading EU Parliament Adopts Anti-Money Laundering Rules Package, Also Policing Crypto https://t.co/gjFtrYon3i #WorthReading
🔥 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
On wednesday EU Parliament adopted new AML laws, assuming 'the anonymity associated with certain electronic money products exposes them to money laundering and terrorist financing risks.' Exept they seem to have no data to backup their claims. Latest for @BitcoinMagazine…
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
🚨 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.
UK Police, National Crime Agency Gain New Crypto Seizure Powers ► https://t.co/PsdXAr2LPE https://t.co/PsdXAr2LPE
New powers to seize cryptoassets used by criminals go live - https://t.co/EsWzkYeK3I https://t.co/MFcaxcYUga
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. New powers that will make it easier for law enforcement agencies to seize crypto come into effect on Friday.… https://t.co/BTDmswq0hM
The UK government has enacted enhanced powers for the National Crime Agency and police to seize and freeze crypto used by criminals https://t.co/FS5PAGyh3K
UK law enforcement agencies granted enhanced powers to seize crypto with implementation of new rules. Read more about it here. https://t.co/UmzI8cE5TL #Crypto | #Tech | #News
New rules that allow UK law enforcement agencies to seize, destroy, or transfer crypto holdings used for crime before making an arrest take effect (@camomileshumba / CoinDesk) https://t.co/t1yo2wupc9 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/Ew6qUuXqki
NEW: U.K. law enforcement agencies can now seize cryptocurrencies involved in suspected crimes more easily, as a new law giving these agencies more authority takes effect. @camomileshumba reports https://t.co/9O8cB0HPgD
🚨 JUST IN: 🇪🇺 Europe introduces new anti-money laundering measures and tightens crypto controls. The crypto industry in Europe is preparing for the effects of new, stricter AML laws that will mean more stringent KYC standards and control. https://t.co/ADIVbh4mlG
📣 Latest News: EU enacts crypto regulations to combat money laundering #news #cryptonews #crypto #regulations