UK bill focused on seizing illegal crypto moves to final stages

The bill will make it easier for law enforcement to seize crypto used in crimes

article-image

VAKS-Stock Agency/Shutterstock modified by Blockworks

share

The Economic Crime and Corporate Transparency Bill is making its way through the final stages of approval after going through the House of Lords.

The UK bill, initially introduced in September of last year, would expand authorities’ abilities to seize and freeze crypto used in crimes including money laundering and drug trafficking.

It has passed through both the House of Commons and the House of Lords, meaning that it just has to go through a consideration of amendments in the House of Commons before it is made law through Royal assent. Essentially, King Charles will formally agree to make it law.

According to the bill’s site, the consideration of amendments is scheduled to take place on Oct. 18.

“We hope we can ensure that enforcement takes place once it is on the statute book, so that dirty money can be exposed, illegal assets can be seized, and action is taken against those who are guilty of economic crime. We must not have further delay in pushing for transparency and action in tackling economic crime,” Labour MP Rushanara Ali said according to a transcript.

The legislation would link to the Proceeds of Crime Act 2002, which “sets out the legislative scheme for the recovery of criminal assets with criminal confiscation being the most commonly used power.” The new legislation would make it easier for authorities to seize and freeze crypto linked to criminal activities.

The UK has been cracking down on crypto, from ads to crypto transaction reporting. In July, it threw out a proposal to regulate crypto trading and investing like gambling.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Javits Center North | 445 11th Ave

Tues - Thurs, March 24 - 26, 2026

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Monad SR Report Graphic.png

Research

Monad is a new Layer 1 blockchain designed as a high performance, EVM-compatible platform.

article-image

Engineers from MetaMask, Coinbase, Google, and the Ethereum Foundation make the case for onchain AI agents via ERC-8004

article-image

Legacy payments firm partners with Anchorage Digital to issue a dollar-pegged token under new US stablecoin law

by Blockworks /
article-image

As Solana ETFs launch but network REV trends lower, Jito sits at the intersection of new capital inflows and microstructure improvements

article-image

The Truth Social parent will integrate Crypto.com Derivatives North America, allowing users to trade prediction contracts under federal oversight

by Blockworks /
article-image

Partnership surpasses $2 billion in staked assets and adds support for new Proof-of-Stake networks

by Blockworks /
article-image

The tokenization leader will merge with Cantor Equity Partners II, becoming the first public firm focused on securities tokenization

by Blockworks /