The post UK Passes Bill to Seizure Crypto Assets Linked to Fraud! appeared first on Coinpedia Fintech News
The U.K. is set to pass a new bill giving local authorities the authority to freeze and seize cryptographic assets linked to crime. The Economic Crime and Corporate Transparency Bill clears legal hurdles, allowing quicker asset freezes and potential contributions to public funding. The bill is expected to stop tainted assets from being moved before seizures in criminal cases, combat money laundering and terrorism, and enable the recovery of more digital assets. The provisions in the bill allow seized and recovered crypto linked to criminal activities to be seized under the Proceeds of Crime Act 2002.