Overview

The U.K. government has introduced a new crime bill on Tuesday that, if passed, aims to help law enforcement agencies recover funds from crypto criminals.

Key Points

• The Crime and Policing Bill includes measures to value destroyed cryptocurrency property in case law enforcement needs to dispose of it.
• It also details conditions under which courts can retrieve funds and enhances the powers of the Crown Court regarding confiscation orders.

“This bill will strengthen the ability of the criminal justice system to pursue those who have benefited from criminal activity,” a government factsheet said.

• This legislation builds on the Economic Crime and Corporate Transparency Act from 2023, which enabled law enforcement to freeze and seize crypto faster.

For further reading, see: UK Crime Bill Lets Cops Freeze Crypto Faster, Channels Tainted Assets to Public Funding.