UK Law Allows Rapid Freezing and Seizure of Criminal Crypto Assets

IconCrypto News Terminal26 Apr, 2024

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UK Law Allows Rapid Freezing and Seizure of Criminal Crypto Assets

UK law enforcement agencies now have the authority to freeze and seize crypto assets suspected of being linked to criminal activity, even before a suspect is arrested. This new legislation, which came into effect on Friday, aims to combat money laundering, drug trafficking, cybercrime, and terrorism. Previously on April 25, 2024, CoinDesk reported that law enforcement agencies in the UK gained the ability to freeze and seize crypto assets linked to criminal activity, even before arresting a suspect.