TechFlow reports that the UK government has announced law enforcement agencies will have the authority to freeze cryptocurrency assets suspected of being involved in criminal activities from the end of April, without needing to wait for a conviction.
The amended Economic Crime and Corporate Transparency Act expands the powers of the National Crime Agency, enabling it to seize and confiscate crypto assets without going through lengthy legal procedures. In addition, authorities will be able to directly recover crypto assets from exchanges and custodial wallet providers, and destroy them when necessary. The law will take effect on April 26.
Add to Favorites
Share to Social Media
