UK Law Enforcement Gains Enhanced Powers to Seize Crypto Assets in Crime Cases

According to CoinDesk, UK law enforcement agencies are set to gain enhanced powers to seize cryptocurrency assets in crime cases, including terrorism, starting April 26. This development comes after the secondary legislation was approved this week, following the passing of the Economic Crime and Corporate Transparency Act 2023. The act grants law enforcement the authority to seize and freeze crypto used for criminal activities. The provisions from the 2023 act that will soon come into force include the civil recovery regime for crypto and the crypto asset confiscation orders. These orders allow authorities to take crypto-related items, defined as 'an item of property that is, or that contains or gives access to information that is likely to assist in the seizure ... of any crypto asset,' according to the legislation.