{"id":86268,"date":"2023-10-26T20:06:47","date_gmt":"2023-10-26T17:06:47","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=86268"},"modified":"2025-09-13T04:27:19","modified_gmt":"2025-09-13T01:27:19","slug":"britain-approves-bill-to-simplify-confiscation-of-crypto-assets","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/britain-approves-bill-to-simplify-confiscation-of-crypto-assets\/","title":{"rendered":"Britain approves bill to simplify confiscation of crypto assets"},"content":{"rendered":"<p>The Parliament of the United Kingdom <a href=\\\"https:\/\/bills.parliament.uk\/bills\/3339\/news\\\">passed<\/a> the Economic Crime and Corporate Transparency Act. It expands authorities&#8217; powers to freeze and seize crypto assets linked to money laundering and the illicit drug trade.<\/p>\n<p><!--more--><\/p>\n<p>The new rules build on an earlier statute \u2014 the Proceeds of Crime Act of 2002 \u2014 <a href=\\\"https:\/\/assets.publishing.service.gov.uk\/government\/uploads\/system\/uploads\/attachment_data\/file\/317904\/Fact_Sheet_-_Overview_of_POCA__2_.pdf\\\">the Proceeds of Crime Act<\/a>.<\/p>\n<p>The authors expect that broadening the toolkit available to law enforcement will improve the mechanism&#8217;s effectiveness and speed up the seizure of digital currencies linked to criminal activity.<\/p>\n<p>One such measure would allow confiscation without a criminal indictment \u2014 where there is compelling evidence that funds were used in illicit operations.<\/p>\n<p>The document also contains provisions enabling authorities to seize other instruments \u2014 for example, those that help trace \\&#8221;criminal\\&#8221; crypto assets.<\/p>\n<p>The bill still requires royal assent.<\/p>\n<p>Earlier in June, the UK finally <a href=\"https:\/\/u1f987.com\/en\/news\/britain-approves-financial-services-and-markets-bill\">approved<\/a> the Financial Services and Markets Act, which covers various aspects of cryptocurrency regulation. The Act also codifies stablecoins as a form of payment.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Parliament of the United Kingdom has passed the Economic Crime and Corporate Transparency Act. It expands authorities&#8217; powers to freeze and seize crypto assets.<\/p>\n","protected":false},"author":1,"featured_media":86269,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[36,810],"class_list":["post-86268","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-regulation","tag-united-kingdom"],"aioseo_notices":[],"amp_enabled":true,"views":"8","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/86268","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=86268"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/86268\/revisions"}],"predecessor-version":[{"id":86270,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/86268\/revisions\/86270"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/86269"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=86268"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=86268"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=86268"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}