The U.Ok. authorities launched a invoice into Parliament on Thursday
geared toward making it simpler for authorities to “seize, freeze and
recuperate” cryptocurrencies as a part of an effort to crack down on
cash laundering actions.
- the White Collar Crime and Business Transparency Bill
- The invoice consists of provisions to offer legislation enforcement companies the facility to “compel corporations to offer data that could be associated to cash laundering or terrorist financing,” together with cryptocurrencies.
- “The new legislation will make it simpler and sooner for legislation enforcement companies just like the National Crime Agency to grab, freeze and recuperate crypto belongings – the digital forex more and more utilized by organized criminals to launder the proceeds of fraud, drug gross sales and cybercrime. ” mentioned the federal government. “Strengthening powers within the Proceeds of Crime Act will modernize laws to make sure authorities can hold tempo with fast technological change and forestall belongings from funding extra crime.”
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