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IPFS News Link • United Kingdom

Welcome to the United Kingdom - Please hand over your crypto

• Cointelegraph

Most of us view it as tyrannical or indefensible when a government seizes someone's assets without arresting them or even charging them with a crime. But thanks to a law that went into effect in April, that's the new reality facing cryptocurrency owners in the United Kingdom.

The change, which came into effect on April 26, is the result of amendments to the Economic Crime and Corporate Transparency Act 2023 (ECCTA), which amended confiscation regimes in the Proceeds of Crime Act 2002 (POCA). U.K. police and the National Crime Agency (NCA) may now seize crypto assets from suspects without arresting them.

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