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UK Introduces Crime Bill That Extends Powers for Courts When Retrieving Crypto
The Crime and Policing Bill has measures on how to value crypto and retrieve it from criminals.
What to know:
- The U.K. government introduced the Crime and Policing Bill that, if passed, aims to help law enforcement agencies retrieve money from crypto criminals.
- "This bill will strengthen the ability of the criminal justice system to pursue those who have benefited from criminal activity," a Government factsheet said.
The U.K. government introduced a new crime bill on Tuesday that, if passed, aims to help law enforcement agencies retrieve money from crypto criminals.
STORY CONTINUES BELOW
The Home Office's Crime and Policing Bill introduces measures that set out how to value destructed crypto property - in the event law enforcement agencies required it to be destroyed if it cant be sold - plus, conditions for how courts can retrieve funds and extends the country's Crown Court powers in regards to confiscation orders.
"This bill will strengthen the ability of the criminal justice system to pursue those who have benefited from criminal activity," a corresponding factsheet said.
This bill builds off the Economic Crime and Corporate Transparency Act which was enforced in 2023 and enabled cops to freeze and seize crypto faster.
Read more: UK Crime Bill Lets Cops Freeze Crypto Faster, Channels Tainted Assets to Public Funding
Camomile Shumba
Camomile Shumba is a CoinDesk regulatory reporter based in the UK. Previously, Shumba interned at Business Insider and Bloomberg. Camomile has featured in Harpers Bazaar, Red, the BBC, Black Ballad, Journalism.co.uk, Cryptopolitan.com and South West Londoner.
Shumba studied politics, philosophy and economics as a combined degree at the University of East Anglia before doing a postgraduate degree in multimedia journalism. While she did her undergraduate degree she had an award-winning radio show on making a difference. She does not currently hold value in any digital currencies or projects.
