ARTICLE · 10 SEPTEMBER 2024

Can UK Law Enforcement Seize Cryptoassets?

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Revised POCA powers, effective April 2024, extend UK authorities' ability to seize and detain cryptoassets. Key changes include pre-arrest seizures, crypto wallet transfers, and court-ordered freezing of assets held by service providers, enhancing efforts against crypto-related financial crime.

United KingdomTechnology

The short answer is "yes".

On 26 April 2024, the revised codes of practice for extending powers under Proceeds of Crime Act 2002 ("POCA") to seize and detain property (including cryptoassets) came into force.

The amendments changed the existing powers in two main ways.

Amendments to search and seizure powers

The amendments to the POCA search and seizure powers ultimately broaden these powers to address novel features of the technology underlying cryptoassets.

Therefore, the new powers specifically permit the seizure of not just cryptoassets, but items of free property which officers believe may hold information that may lead to the seizure of cryptoassets.

In summary, the amendments will permit:

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