UK Proposes New Law to ‘Seize, Freeze and Recover’ Crypto Assets Easier and Faster
The British government has presented the Economic Crime and Corporate Transparency Bill to Parliament that will “make it easier and quicker” for law enforcement agencies “to seize, freeze and recover crypto assets.” The government stressed: “We must ensure that law enforcement agencies have the right legislative framework in place to recover criminals’ crypto assets.” UK’s New Bill to Help Authorities Seize, Freeze, and Recover Crypto The British government introduced the Economic Crime and Corporate Transparency Bill in the House of Commons Thursday. The bill “aims to strengthen the U.K.’s fight against economic crime,” the government detailed, noting that “It will also support efforts to tackle terrorist financing.” The government explained: The new law will make it easier and quicker for law enforcement agencies such as the National Crime Agency to seize, freeze and recover crypto assets — the digital currency increasingly used by organized criminals to launder profits from f