New UK Law Can Seize And Freeze Crypto

New UK Law Can Seize And Freeze Crypto

Share

🗳 Fact/FUD

New UK Law Can Seize And Freeze Crypto

Crypto Daily™3 days ago
UnitedUnited
IdentityIdentity
PrimePrime
Published on September 23, 2022 09:30 GMT+00:00edited on September 24, 2022 13:31 GMT+00:00

Share

The United Kingdom has introduced a new law that can seize, freeze, and recover cryptocurrencies, to combat criminal activities. 

New Crypto Law To Combat Money Laundering

In a bid to crack down on fraud and money laundering in the country, the UK government has finally officially adopted the Economic Crime and Corporate Transparency bill, which was first introduced in May 2022. The bill provides guidance for law enforcement agencies to treat crypto as an essential component of evidence in criminal investigations. The legislature has also garnered the support of the UK Home Office, Department for Business, Energy & Industrial Strategy, Serious Fraud Office, and Treasury. 

Director General of the National Crime Agency, Graeme Biggar, addressed the matter and the connection …