UK Mulling Crypto-Asset Seizure of Credentials, Says Home Office

By Christopher Crosby (February 24, 2022, 15:36 GMT) — The government is “eager” to introduce new legislation allowing authorities to seize crypto-assets in civil proceedings, as the risk of criminals using digital currencies for fraudulent purposes and monetary laundering are on the rise, a senior official told lawmakers on Thursday.

Duncan Tessier, director of economic crime at the Home Office, told lawmakers tackling fraud that the government was considering new laws to tackle the growing threat around online assets given their prevalence in money laundering.

Tessier told a House of Lords committee examining the Fraud Act 2006 that the positive aspects of financial invention carried the risk that it…

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