The UK will simplify the procedure for the confiscation of cryptocurrencies

The UK authorities want to make changes to the legislation that will allow law enforcement agencies to more easily confiscate crypto assets as part of the prosecution of terrorism.

Relevant amendments are already being considered for the Economic Crimes Act, and similar changes are now proposed for the 2000 Terrorist Offenses Act and the 2001 Anti-Terrorism Act.

“The amendments are being made to ensure that our law enforcement agencies, including counter-terrorism units, have all the necessary powers to effectively seize, freeze and confiscate crypto assets that could or have been used for terrorist purposes,” said a spokesman for the UK Home Office.

As Home Secretary Suella Braverman emphasized, cryptocurrencies are increasingly being used both in economic crimes and to promote terrorism. Therefore, it is necessary to provide all the necessary tools for law enforcement agencies so that they can effectively combat crime.

A recent study by UK-based website VoucherCodes found that 34% people in the UK currently own some form of digital asset.