UK to introduce new bill to expand powers to seize cryptocurrencies

The UK government has proposed a new bill that expands its power to seize and destroy cryptocurrency related to criminal activities. Following the first reading of the "Crime and Policing Bill" in the House of Commons, the bill is currently undergoing a second reading and will soon enter the committee review stage. The new legislation aims to enhance law enforcement's ability to seize illegal encrypted assets and return them to victims, while strengthening the country's overall means of combating economic crime. One key provision of the bill grants the Royal Court expanded powers to handle confiscation orders involving cryptocurrency.