U.K. Government Introduces New Crime Bill

The U.K. government introduced a new crime bill on Tuesday that, if passed, aims to assist law enforcement agencies in recovering money from crypto criminals.

The Home Office’s Crime and Policing Bill outlines measures for valuing destroyed crypto property, allowing for its destruction if it cannot be sold. It also sets conditions for courts to retrieve funds and extends the powers of the Crown Court regarding confiscation orders.

A corresponding factsheet stated, “This bill will strengthen the ability of the criminal justice system to pursue those who have benefited from criminal activity.”

This bill builds off the Economic Crime and Corporate Transparency Act enacted in 2023, which allowed quicker freezing and seizing of crypto by law enforcement.

Read more: UK Crime Bill Lets Cops Freeze Crypto Faster, Channels Tainted Assets to Public Funding