UK bill focused on seizing illegal crypto moves to final stages
The bill would expand authorities' abilities to seize and freeze crypto used in crimes including money laundering and drug trafficking....
- The Economic Crime and Corporate Transparency Bill in the UK is in the final stages of approval.
- The bill aims to expand law enforcement's ability to seize and freeze cryptocurrency used in crimes such as money laundering and drug trafficking.
- It has passed through both the House of Commons and the House of Lords and is awaiting consideration of amendments before becoming law.
- The consideration of amendments is scheduled for October 18th.
- The legislation would link to the Proceeds of Crime Act 2002, making it easier for authorities to seize and freeze crypto connected to criminal activities.
- The UK has been increasing its regulation and crackdown on cryptocurrency, including ads and transaction reporting.
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