UK law enforcement to expand powers to seize crypto assets

UK law enforcement agencies have strengthened their ability to seize cryptocurrency assets in criminal cases, including terrorism, which is expected to take effect on April 26. Following the passage of the 2023 Economic Crime and Corporate Transparency Act, secondary legislation was approved this week, giving law enforcement agencies the power to seize and freeze cryptocurrency used in crimes. The soon-to-be-effective provisions include a cryptocurrency civil recovery system and a cryptocurrency asset seizure order that allows authorities to seize cryptocurrency-related items defined as "including or giving access to information that may assist in the seizure of...any cryptocurrency asset."