Police in the United Kingdom (UK) can now seize crypto assets from suspects without arresting them.
New legislation came into force on Friday giving the UK National Crime Agency (NCA) and police additional powers in relation to cryptocurrencies, according to a new government announcement.
The announcement notes that the expanded powers will allow authorities to seize cryptocurrencies from “high-level criminals” who may be anonymous or based overseas. Police will also be given the power to seize physical items related to cryptocurrency investigations, such as flash drives and written passwords.
UK police are now also allowed to destroy crypto assets “where their return to circulation is not in the public interest”, and victims of cryptocrime are given the power to apply for the return of stolen digital assets. It will be done.
Adrian Foster, the chief prosecutor, said the powers needed to be expanded at a time when criminals are exploiting cryptography.
“Cryptoassets are often used by criminal organizations to launder criminal proceeds internationally at the push of a button.
It is critical that investigators and prosecutors have the ability and agility to respond to this changing nature of crime. [and] These new measures will greatly aid our ability to suppress, freeze, or eliminate crypto assets from illegal companies. ”
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Featured image: Shutterstock/Mykola Holyutyak/Natalia Siiatovskaia
