Odaily Planet Daily reported that the British "Economic Crime and Corporate Transparency Bill" has been passed by the House of Lords and entered the final stage of approval. If final approval is granted later this year, it would give local authorities greater powers to freeze and seize crypto assets linked to crime.


The bill would give local courts and law enforcement agencies new powers to quickly seize cryptoassets used for money laundering, drug trafficking, committing cybercrime, or facilitating terrorism crimes. The new legislation removes specific legal barriers that currently slow down the process of asset seizure, and provisions in the bill allow authorities to seize digital assets linked to criminal activity under the Proceeds of Crime Act 2002. (The Block)
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