UK Expands Powers to Freeze and Seize Cryptocurrencies Suspected of Crimes

UK authorities can now freeze and seize crypto assets suspected of being used for criminal activities like money laundering without a court order.

This new law comes from last year's Economic Crime and Corporate Transparency Act, expanding law enforcement's powers.

The law aims to disrupt illicit crypto financing and prevent assets from being moved/concealed.

Over £1.4 billion in Bitcoin was recently seized in the UK following an investment scam in China.

The law marks a pivotal moment in UK crypto regulation and boosts law enforcement's capacity to combat financial crimes involving cryptocurrency.