According to a press release issued by the UK Home Office, the National Crime Agency (NCA) and the UK police now have more authority to seize, freeze and destroy cryptocurrencies used by criminals.
Under these new rules, it will no longer be necessary for law enforcement to make an arrest before taking control of cryptocurrencies.
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In addition, police will also be able to seize items such as passwords and memory sticks that may assist in investigations. They can also permanently withdraw crypto assets if their release into circulation is deemed contrary to the public interest.
As of April 26, these laws also give police the ability to transfer seized illicit cryptocurrencies to wallets under their supervision. In addition, victims of crime can now request the recovery of funds from their crypto accounts.