2023-10-27 12:05:54
New legislation passed by UK lawmakers allows authorities to seize and freeze cryptocurrencies used in crimes. The law aims to expand authorities’ ability to crack down on the use of cryptocurrencies in crimes such as cybercrime, scams and drug trafficking. The provision on economic crime and corporate transparency received the king’s approval on 26 October. One provision of the regulation allows for the recovery of crypto-assets used in crimes without a conviction. By this I want to avoid that some persons may avoid judgment by staying away. Another goal of the legislation is to prevent the use of digital tools in terrorism and other related crimes. The law is in line with the country’s government’s push to heavily regulate cryptocurrencies as part of a fight once morest their illicit use. It reflects the determination of local authorities that they are constantly making new proposals regarding the regulation of digital devices. Recently, the news broke that they would take action once morest fan tokens, which some organizations promise crypto-investments to fans. On the other hand, according to some research, the level of acceptance of cryptocurrencies has increased significantly in the country recently. In terms of raw transaction volume, the United Kingdom is the largest crypto country in Central, Northern and Western Europe, according to an October report by blockchain analytics firm Chainalysis. In February of this year, Recap reported that London has the highest level of crypto-readiness for existing and startup businesses. Dubai and New York are in second and third place, respectively.
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#Cryptocurrencies #crimes #seized
