UK's Law Enforcement Can Now Seize Bitcoin Linked to Criminal Activity Without Conviction
The Economic Crime and Corporate Transparency Bill became law on Thursday after receiving the King's approval. Users with robust self-custody set up remain unaffected.
- "Provisions in the bill give broader powers to local cops, and will let them seize crypto they believe was used to launder money, traffic drugs, commit cybercrime and terrorism without a conviction – something experts say would come in handy, particularly in time-sensitive cases."
- Prior to this law, digital assets linked to illegal activities were a subject to freezing but couldn't be confiscated in criminal cases unless an individual has been arrested and convicted, explained Decrypt.
- "Separate provisions to help authorities seize other assets that can help identify crypto linked to crime were also added. It was passed by Parliament on Wednesday."
Press Release / Archive
CoinDesk Article / Archive
Decrypt Article / Archive
