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Crypto: What trustees need to know about the proposed new civil seizure powers

Caroline Harbord, senior associate & Joe May, trainee solicitor, Forsters, 17/03/2022

The UK government has announced that it will introduce a further Economic Crime Bill, in addition to the one currently working its way through parliament, to bring in new powers to seize cryptoassets and to extend existing civil forfeiture powers to them.

UK enforcement authorities can currently seize cryptoassets using powers derived from criminal law. For example, HMRC did so when it recently seized three non-fungible tokens as part of a VAT fraud investigation. However...


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