Great Britain strives for an improved crypto fitting night

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parliament Stable coins
  • The far -reaching law on economic crime and corporate transparency should change parts of the British law on income from crimes
  • The provisions of the draft law contains a section that is dedicated to crypto income and the circumvention of sanctions

The British government has brought in a draft law that, among other things, grants the authorities additional powers to confiscate and restore crypto that are connected to alleged criminals.

It is Bill The law enforced on Thursday aims to change several parts of the law on income from crimes in the country and at the same time strengthen the powers to combat money laundering.

Legislation also represents the greatest restructuring of the British corporate register, the Companies House, to check, contain or reject false or fraudulent corporate information.

The recent draft law of the government, which is intended to strengthen the laws on the containment of illegal income, also aims at the bypass of sanctions, for example by Russia and Iran.

"The bureaucracy around confidentiality is relaxed so that companies can exchange information in order to prevent and uncover economic crime, including fraud and circumvention of sanctions," said the government in A separate explanation .

The

British crypto regulations

The United Kingdom has taken several steps this year to improve its supervision of digital assets and to tighten the regulation about the aspiring asset class.

In July,

included the introduction of a far-reaching financial law that aims to let hundreds of EU regulations expire and to regulate “certain types” of stable coins as a means of payment.

It would also give the government new powers to instruct the regulatory authorities to review their finance under conditions that are in the public interest.

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The contribution UK Seeks Enhanced Crypto Seizure Power is not a financial advice.