British authorities have been freezing crypto assets worth 6 million pounds since 2024-strategy to combat financial crime increases

British authorities have been freezing crypto assets worth 6 million pounds since 2024-strategy to combat financial crime increases

British authorities freeze

Since 2024, British authorities have frozen cryptocurrencies worth 6 million pounds ($ 7.76 million) that are connected to alleged criminal activities. These measures use new enforcement powers that were granted last year. The increase in the frozen digital assets is part of comprehensive efforts by law enforcement authorities such as HMRC, the National Crime Agency and the Financial Conduct Authority (FCA), the use of cryptocurrencies in financial crime, including tax support and money laundering.

New freezing of Wallets

An outstanding example of the application of these new powers is the most important crypto foreclosure command that had a value of £ 1.5 million ($ 1.94 million). This decision, issued on March 18, 2024 by the Newcastle Upon Tyne District Court, concerned a single wallet that was hosted on Coinbase. The legal basis for such measures were created in April 2024 by a new law that allows British authorities to prevent suspicious digital assets preventive in order to prevent suspects from transferring or hiding illegal profits during the investigation.

According to the new rules, Wallets, which are suspected of accommodating yields from crimes, can be blocked for a maximum of three years to give the investigation.

tightening the cryptor regulation

The enforcement measures are part of a more comprehensive initiative by the British government to strengthen control over the sector of digital assets. In April 2024, coordinated raids began under the direction of the police, HMRC and Ministry of the Interior. These efforts aim to combat the cryptocurrencies to combat crimes as a "emerging threat". In December 2024, the FCA proposed stricter rules for crypto companies. These rules aim to increase transparency, to strengthen the duty of care and to tighten the registration requirements for stock exchanges and service providers.

focus on cryptocurrency crime

HMRC and the police have increasingly prioritized crypto -related cases in their units for financial crime. This focus reflects a broader adaptation to the technological tools that use criminal networks to disguise transactions. Lawyers report that the authorities strive to use their powers, especially in cases of tax evasion and complex money laundering structures.

The National Crime Agency has significantly reinforced its operations to combat cryptocurrency crime. Right -wing experts expect the number of freezing orders to increase noticeably with the progress of the investigation. By previously taking digital assets, the authorities can interrupt the financial flows associated with criminal networks.

constant development and expectations

Although the previously frozen amount of £ 6 million can be considered modest compared to the size of the global cryptoma market, it is regarded as an initial phase. Experts point out that the enforcement regime in this area was only restarted in April 2024 and the results need time to develop. However, there are good prerequisites for a wave wave of confiscations, since the authorities further develop their existing capacities and improve cross -border cooperation.

Overall, the increased application of freezing orders, combined with upcoming legislation and the tightening of regulation, indicates strategic change in dealing with cryptocurrencies. The British authorities seem to be determined to ensure that digital assets do not act outside the legal area.