UK Police Get New Powers to Seize Crypto Used in Crimes

Necmettin Yalçın Salt

Chief Executive Partner

April 27, 2024

Blockchain Law

UK Police Granted New Powers to Seize Crypto Used in Crimes

London, April 27, 2024:

The UK Home Office has announced the introduction of new powers to assist law enforcement in seizing crypto assets used in crimes. This significant development comes as part of the government's efforts to enhance its capabilities in combating digital crime.

Scope of the New Powers

Under the new rules, police no longer require an arrest warrant to seize crypto assets. This will enable authorities to swiftly and easily confiscate criminals' cryptocurrencies.
Additionally, officials can transfer seized crypto assets to a law enforcement-controlled wallet. If these assets are not deemed suitable for public interest use, they will not be reintroduced into circulation and will be destroyed. Privacy coins, which provide anonymity, are among the assets that could be destroyed.

Rationale Behind the Powers

The Home Office maintains that the new powers will make it more difficult for criminals to utilize cryptocurrencies for money laundering and other offenses. The department also claims that these powers will aid in preventing terrorist organizations like ISIS from raising funds through cryptocurrencies.

Expert Opinions

Director of Public Prosecutions Adrian Foster stated, "It is crucial for investigators and prosecutors to possess the agility and ability to adapt to the ever-evolving nature of crime. The newly implemented measures will significantly strengthen our authority to restrict, freeze, or destroy crypto assets employed in illicit activities."
The expansion of UK law enforcement's authority to seize crime-related crypto assets bolsters the government's digital crime-fighting capabilities. This will enable swifter and more effective intervention in preventing the use of cryptocurrencies for illegal activities
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