The U.K. government introduced a new crime bill on Tuesday that, if passed, aims to help law enforcement agencies retrieve money from crypto criminals.
The Home Office’s Crime and Policing Bill introduces measures that set out how to value destructed crypto property – in the event law enforcement agencies required it to be destroyed if it cant be sold – plus, conditions for how courts can retrieve funds and extends the country’s Crown Court powers in regards to confiscation orders.
“This bill will strengthen the ability of the criminal justice system to pursue those who have benefited from criminal activity,” a corresponding factsheet said.
This bill builds off the Economic Crime and Corporate Transparency Act which was enforced in 2023 and enabled cops to freeze and seize crypto faster.
Read more: UK Crime Bill Lets Cops Freeze Crypto Faster, Channels Tainted Assets to Public Funding