Cryptoassets

New powers allowing police to seize cryptocurrency and other similar assets, which have been illegally obtained by criminals or are being used to hide or launder the proceeds of their activities, came into effect in Scotland yesterday, writes Sally Clark. The new seizure powers are a key aspect of t

Always quick to spot an opportunity, criminals have increasingly turned to cryptocurrency as a means of hiding and, in many cases, laundering the proceeds of illicit activities, writes Sally Clark. As part of the law enforcement response, cryptocurrencies and other cryptoassets have now been specifi

The Treasury Committee has called for the regulation of consumer trading in unsupported cryptocurrencies, akin to gambling laws.

The UK government is considering an update to the Direct Recovery of Debts (DRD) legislation that would enable HM Revenue & Customs (HMRC) to seize cryptoassets from businesses evading tax.