"UK Implements Strong Measures to Combat Bitcoin Crime and Financial Fraud"
The UK has passed the Economic Crime and Corporate Transparency Bill, which allows authorities to seize and freeze cryptocurrencies like Bitcoin if used for illicit purposes. The bill is expected to receive royal assent on October 26, 2023, and aims to expand authorities' ability to crack down on the use of cryptocurrency in crimes such as cybercrime, scams, and drug trafficking. The legislation permits the recovery of crypto assets used in crimes without conviction and aims to combat the use of digital assets for terrorism-related purposes. This aligns with the UK government's plans to robustly regulate crypto and fight the illicit use of digital assets.