UK House of Lords passes bill to seize stolen crypto

• The Economic Crime and Corporate Transparency Bill in the United Kingdom aims to expand authorities' ability to target illicit cryptocurrency usage.
• The bill has gone through the House of Commons and is now in the final stages of approval by the House of Lords.
• Amendments have been made to clarify the bill's intent of targeting monetary proceeds from fraud or other financial crimes.
• The bill also includes provisions for corporate transparency and overseas business registrations.
• The House of Commons will decide whether to accept the proposed amendments or recommend changes to the bill.
• Once approved, the bill will become law through royal assent.
• The Financial Conduct Authority (FCA) in the UK is willing to work with crypto companies to develop a regulatory framework.
• The FCA's responsibilities include ensuring compliance with Anti-Money Laundering and Counter-Terrorist Financing legislation.

The sentiment of the article is neutral.