UK IRGC Designation May Expose Crypto Recipients to Prison Terms

The UK's IRGC designation took effect on July 17 and could expose UK-linked crypto recipients to up to 14 years in prison. According to NS3.AI, the law does not specifically mention crypto assets, but its broad wording may cover stablecoins and other on-chain transfers. The designation does not automatically freeze assets. Stablecoin freezes would still require separate action by issuers or through legal channels.