Britain will adopt a law on the withdrawal, freezing and return of cryptocurrencies
The UK intends to expand the powers of the country’s law enforcement agencies in the field of regulating the cryptocurrency market by adopting another bill that will provide the authorities with more opportunities to withdraw, freeze and return cryptocurrencies.
A new anti-money laundering bill introduced in Britain today is designed to make it easier for law enforcement agencies to seize digital assets as part of a broader fight against money laundering.
Thanks to the reforms, anyone who registers a company in the UK will have to confirm their identity, which will solve the problem of using companies as a cover for criminals or foreign kleptocrats, according to the website of the British government.
The powers of the Registration Chamber for investigation and enforcement will also be expanded, which will allow the organization to cross-check data with public and private partners, as well as report suspicious activity to security agencies and law enforcement agencies.