UK Introduces Crypto Seizure and Recovery Law

The U.K. has introduced the Economic Crime and Corporate Transparency bill to make it easier for law enforcement agencies to seize, freeze and recover crypto assets used for criminal activities.

The bill was introduced by the Home Office, Department for Business, Energy & Industrial Strategy, Serious Fraud Office and Treasury and covers more than just crypto.

The bill had its first reading in the House of Commons on Thursday, with the second reading scheduled for Oct. 13.

The bill is designed to build on the earlier Economic Crime (Transparency and Enforcement) Act that helped regulators place sanctions against Russia and freeze relevant assets in the country.

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