{"id":368438,"date":"2023-10-26T15:45:32","date_gmt":"2023-10-26T14:45:32","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=368438"},"modified":"2023-10-26T15:45:32","modified_gmt":"2023-10-26T14:45:32","slug":"new-uk-law-grants-authorities-power-to-seize-crypto-without-arrest","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/new-uk-law-grants-authorities-power-to-seize-crypto-without-arrest\/","title":{"rendered":"New UK law grants authorities power to seize crypto without arrest"},"content":{"rendered":"<p>The government of the U.K. has approved a bill enhancing law enforcement's authority to confiscate cryptocurrency assets linked to criminal activities, including money laundering, fraud, and ransomware attacks.<\/p>\n<p>According to the lawmakers' <a href=\"https:\/\/bills.parliament.uk\/bills\/3339\/news\">website<\/a>, the bill officially became law after receiving Royal Assent on Oct. 26.<\/p>\n<p>Entitled the &#8220;Economic Crime and Corporate Transparency Bill,&#8221; this legislation empowers government agencies, like the police, to confiscate cryptocurrency assets as part of an investigation without necessarily arresting an individual for a criminal offense.<\/p>\n<p>The bill was <a href=\"https:\/\/cryptoslate.com\/uks-new-bill-aims-to-help-law-enforcement-seize-freeze-crypto\/\">introduced<\/a> in September 2022 and has undergone several amendments and corrections to cover money laundering or terrorist financing.<\/p>\n<p>A UK-based accounting company, Swindell Accounting, <a href=\"https:\/\/www.swindellsaccounting.co.uk\/business\/what-are-the-key-highlights-of-the-economic-crime-and-corporate-transparency-bill\/\">wrote<\/a> in a blog post:<\/p>\n<blockquote><p>&#8220;The bill will also strengthen anti-money laundering powers and help facilitate better information sharing about suspected offenses. In certain situations, businesses will be able to share information more easily for the purpose of preventing, investigating, or detecting economic crime. Civil liability will not apply to breaches of confidentiality for businesses supplying information about economic criminal offenses.&#8221;<\/p><\/blockquote>\n<p>The approval of the bill will bolster the efforts of U.K. authorities in combatting crypto-related crimes. <em>CryptoSlate<\/em> reported that the Metropolitan Police had <a href=\"https:\/\/cryptoslate.com\/250-million-worth-of-cryptocurrency-seized-in-uk\/\">seized<\/a> millions of crypto linked to crimes before its approval.<\/p>\n<h2>UK's recent crypto regulatory efforts<\/h2>\n<p>This bill is part of the UK government's recent initiative to regulate the growing cryptocurrency industry. The Financial Conduct Authority (FCA) recently introduced new <a href=\"https:\/\/cryptoslate.com\/htx-kucoin-among-exchanges-on-uks-fca-unauthorized-operators-list\/\">regulations<\/a> obligating companies to caution investors about the potential risks of losing their funds in crypto investment products.<\/p>\n<p>On Oct. 25, the FCA expressed <a href=\"https:\/\/cryptoslate.com\/uks-fca-says-crypto-firms-are-failing-to-satisfy-new-promotional-rules\/\">concern<\/a> that several crypto firms were not complying with these promotional requirements and warned of imminent <a href=\"https:\/\/cryptoslate.com\/fca-restricts-binances-uk-partners-ability-to-approve-crypto-ads\/\">actions against violators<\/a>. The regulations empower the government to impose unlimited fines on companies and even jail time for executives of these companies.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The government of the U.K. has approved a bill enhancing law enforcement&#8217;s authority to confiscate cryptocurrency assets linked to criminal activities, including money laundering, fraud, and ransomware attacks. According to the lawmakers&#8217; website, the bill officially became law after receiving Royal Assent on Oct. 26. Entitled the &#8220;Economic Crime and Corporate Transparency Bill,&#8221; this legislation [&hellip;]<\/p>\n","protected":false},"author":720,"featured_media":368443,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[77007,77045],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>New UK law grants authorities power to seize crypto without arrest<\/title>\n<meta name=\"description\" content=\"The UK parliament have passed a new bill that empowers law enforcement agencies to seize crypto assets used in criminal activities.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/new-uk-law-grants-authorities-power-to-seize-crypto-without-arrest\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New UK law grants authorities power to seize crypto without arrest\" \/>\n<meta property=\"og:description\" content=\"The UK parliament have passed a new bill that empowers law enforcement agencies to seize crypto assets used in criminal activities.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/new-uk-law-grants-authorities-power-to-seize-crypto-without-arrest\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-26T14:45:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/10\/uk-crypto-crime.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Oluwapelumi Adejumo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Oluwapelumi Adejumo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/new-uk-law-grants-authorities-power-to-seize-crypto-without-arrest\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/new-uk-law-grants-authorities-power-to-seize-crypto-without-arrest\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#person\",\"name\":\"Oluwapelumi Adejumo\",\"url\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"caption\":\"Oluwapelumi Adejumo\"},\"jobTitle\":\"Senior Reporter\",\"description\":\"Oluwapelumi values Bitcoin's potential. 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