UK Will Simplify Crypto Confiscation in Terrorism Cases

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The UK authorities plan to make it easier for law enforcement agencies to confiscate digital assets used to finance terrorism.

A representative of the Ministry of Internal Affairs has said the amendments are provided for in the bill on economic crimes and transparency. In September, it was sent to the country’s parliament for consideration.

According to the representative of the agency:

“This is done to ensure that our law enforcement agencies, including counter-terrorism units, have all the necessary powers to effectively seize, freeze and confiscate crypto assets.”

In the second reading of the bill, UK Home Secretary Suella Braverman explained the need for amendments by saying that cryptocurrencies are “increasingly used for malicious and terrorist purposes.”