The UK Parliament has just passed the Economic Crime and Corporate Transparency Act, which expands the ability of the country's authorities to freeze and seize crypto assets linked to money laundering and drug trafficking.
According to the authors of the document, expanding the arsenal of tools available to law enforcement agencies should increase the efficiency of the mechanism and speed up the procedure for confiscating digital currencies associated with criminal activities.
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It should be noted one of these measures is the possibility to carry out confiscation without indictment, when there is strong evidence that the funds have been used in illegal transactions.
The law also contains provisions that allow authorities to seize other tools, such as those that help track "criminal" crypto assets.
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Before coming into force, the document must still receive royal assent.
The UK finally passed the Financial Services and Markets Act in June, which affects several aspects of regulation of the crypto sector.