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Date: 2025-02-26 18:05:27
On Tuesday, the U.K. government unveiled a new crime bill designed to assist law enforcement agencies in recovering funds from criminals using cryptocurrency, should it be approved.
The Crime and Policing Bill, proposed by the Home Office, outlines measures for determining the value of destroyed crypto assets - in cases where law enforcement agencies are required to destroy them if they cannot be sold - as well as conditions for how courts can recover funds and expands the Crown Court's powers in relation to confiscation orders.
"This bill will bolster the capacity of the criminal justice system to pursue individuals who have profited from criminal conduct," according to a factsheet accompanying the bill.
Read More: "Bitdeer Faces Significant Q4 Loss Yet Aims for 40 EH/s Hashrate"
This bill follows the Economic Crime and Corporate Transparency Act, which came into effect in 2023 and enabled police to freeze and seize cryptocurrencies more swiftly.
For more information: New UK Crime Bill Enables Faster Freezing of Crypto, Redirects Tainted Assets to Public Funding
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