UK Introduces Law to Seize, Freeze and Recover Crypto

The U.K. introduced a bill to make it easier for law enforcement agencies to seize, freeze and recover crypto assets when used for criminal activities such as money laundering, drugs and cybercrime, the government said Thursday.

The 250-page Economic Crime and Corporate Transparency bill, first promised in May, was introduced by the Home Office, Department for Business, Energy & Industrial Strategy, Serious Fraud Office and Treasury and covers more than just crypto. It had its first reading in the House of Commons on Thursday, with the second reading scheduled for Oct. 13.

Source: UK Introduces Law to Seize, Freeze and Recover Crypto