House of Lords Agrees on Amendments to Bill to Seize Stolen Crypto

Crypto Daily
Crypto Daily

19 Sep 2023 9:01 PM

The UK’s House of Lords passed a bill allowing stolen cryptocurrencies to be seized. The bill will now enter the final stages of approval by the House of Lords....

  • The UK's House of Lords has passed a bill that allows for the seizure of stolen cryptocurrencies.
  • The bill aims to crack down on illicit crypto usage and address cryptocurrency-related financial crimes.
  • Amendments have been made to clarify the bill's intent and introduce provisions for corporate transparency and the registration of overseas businesses.
  • The bill also aims to make it easier for legitimate projects and companies to gain recognition and support.
  • If approved, the bill will make registration stricter and improve transparency requirements for limited partnerships to prevent money laundering and other criminal activities.
  • The bill will now enter the final stages of approval by the House of Lords.

The sentiment of the article is generally positive, as the bill is seen as a positive step towards addressing cryptocurrency-related financial crimes and improving transparency in the industry.

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What bill has the UK's House of Lords passed regarding cryptocurrencies?What is the primary goal of the bill?What amendments have been made to the bill?How will the bill impact legitimate projects and companies in the cryptocurrency industry?What are the next steps for the bill in the approval process?

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