UK passes law granting police broader powers to seize crypto linked to crimes
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The Economic Crime and Corporate Transparency Bill gives broader powers to UK police to seize crypto linked to criminal activities without a conviction.
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The bill covers drug trafficking, cybercrime, terrorism, and helps identify crypto tied to crime.
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It was passed by UK Parliament on Wednesday and received royal assent on Thursday.
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The UK wants to be a crypto hub but has clamped down on crypto crime, seizing hundreds of millions in illicit crypto.
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The bill helps law enforcement agencies like local police seize crypto in time-sensitive cases.