• May 21, 2024


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The UK is Developing a Bill to Confiscate Cryptocurrency from Criminals

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The British government is preparing a bill to confiscate digital currencies from criminals. Both the country’s Prime Minister Boris Johnson and the Conservative Party are in favor of adopting such a document.

The country’s leadership is interested in reducing the scale of the criminal use of digital assets.

Reuters has reported that the British authorities do not want to allow cryptocurrencies to be used not only by criminals, but also by officials from countries under sanctions.

The section on the seizure of virtual currencies is included in the law on economic crimes, a document that will give law enforcement agencies the right to confiscate such tools as soon as possible if they are proven to be used in dubious schemes.