UK police authorized to seize criminal crypto holdings without arrests

📆 4/26/2024 12:56 PM
📰 Cointelegraph

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UK law enforcement gains expanded power to seize, freeze, and destroy criminal cryptocurrency without needing an arrest. They can also confiscate items aiding investigations.

From April 26, police can transfer seized illicit crypto to their controlled wallets, with victims able to reclaim funds from the accounts.

Part of the new laws, which will come into effect from April 26, state that the police can also transfer seized illicit cryptocurrency to wallets under their control and crime victims can apply to reclaim funds from their crypto accounts. “These reforms will also enhance our national security. Terrorist organisations like Daesh are known to raise funds through crypto transactions and these updated powers will enable our agencies to more easily strip them of their assets.

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