House of Lords passes bill to empower authorities to seize digital assets
The new legislation amends several acts to, among other things, insert digital asset-related definitions and mechanisms to extend existing powers to the digital asset context.
The new legislation amends several acts to, among other things, insert digital asset-related definitions and mechanisms to extend existing powers to the digital asset context.
The House of Lords passed the bill introduced last September, allowing authorities to seize illicit digital asset funds and courts to order their freezing.
A new bill hurdles the British parliament as it hardens its stance on digital currency exchanges in the wake of soaring financial crimes, a move that is also expected to affect the blockchain sector.