UK lawmakers vote to widen authorities’ powers in seizing crypto-related property

2022/11/22 14:50

According to Coindesk, lawmakers in the U.K. voted on Tuesday to grant authorities wider powers to seize property containing information that can help identify crypto assets related to crime. The Economic Crime and Corporate Transparency Bill, which is being debated in Parliament, already included rules to give authorities powers to seize and detain crypto tied to criminal activity. New amendments accepted by lawmakers in the House of Commons (the lower chamber of Parliament) seek to give local law enforcement powers to also seize “crypto asset-related items,” which are items of property that contain or give access to information that could help assist in the seizure of targeted crypto assets. The bill still has to pass the House of Commons and go through the upper chamber of Parliament before it is passed into law.

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