New Measures to Confiscate Criminal Crypto Assets Implemented in the UK

New powers to seize, freeze, and destroy crypto assets used by criminals have come into force today, marking a crucial step in combating illicit cryptocurrency activities.

New Measures to Confiscate Criminal Crypto Assets Implemented in the UK

In a significant development, greater powers for the National Crime Agency and police to seize, freeze, and destroy crypto assets used by criminals have come into force today.

This move marks a crucial step in combating the illicit use of cryptocurrency for criminal activities and upholding the financial system's integrity.

Organised criminals, including drug dealers, fraudsters, and terrorists, have increasingly turned to crypto assets to launder the proceeds of crime and raise money.

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