From April 26, police can transfer seized illicit crypto to their controlled wallets, with victims able to reclaim funds from the accounts.
The United Kingdom’s National Crime Agency (NCA) and police have received expanded authority to “seize, freeze, and destroy” cryptocurrency used by criminals. As a result of these new rules, police in the country will no longer be required to make an arrest before seizing crypto holdings.
According to a press release from the U.K. Home Office, the police can also seize items like passwords or memory sticks that could aid investigations. U.K. law enforcement will also be able to eliminate a crypto asset if returning it to circulation is deemed detrimental to the public good.
Part of the new laws, which will come into effect from April 26, state that the police can also transfer seized illicit cryptocurrency to wallets under their control and crime victims can apply to reclaim funds from their crypto accounts.
