The U.K. introduced a bill to make it easier for law enforcement agencies to seize, freeze and recover crypto assets when used for criminal activities such as money laundering, drugs and cybercrime, the government said Thursday.
The 250-page Economic Crime and Corporate Transparency bill, first promised in May, was introduced by the Home Office, Department for Business, Energy & Industrial Strategy, Serious Fraud Office and Treasury and covers more than just crypto. It had its first reading in the House of Commons on Thursday, with the second reading scheduled for Oct. 13.
"Domestic and international criminals have for years laundered the proceeds of their crime and corruption by abusing U.K. company structures, and are increasingly using cryptocurrencies," Graeme Biggar, director general of the National Crime Agency, said in the statement. "These reforms – long awaited and much welcomed – will help us crack down on both."
Even without the bill, the authorities have not been...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...