UK Passes Bill to Seize Cryptocurrency Used for Illicit Activities
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UK passes bill allowing authorities to seize crypto used for illicit purposes like cybercrime and drug trafficking.
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Bill permits recovery of crypto without conviction, as some criminals avoid conviction by being remote.
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Aims to combat use of digital assets for terrorism or related reasons.
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Aligns with UK's plans to robustly regulate crypto to fight economic crime from 2023-2026.
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Comes as UK emerges as major crypto economy despite cracking down on crypto crimes.