Greetings in the United Kingdom! Kindly surrender your cryptocurrency.

The United Kingdom has implemented a new law that allows the government to seize cryptocurrency assets from individuals suspected of criminal activity without arresting or charging them. The law, which came into effect on April 26, is an amendment to the Economic Crime and Corporate Transparency Act 2023 (ECCTA) and the Proceeds of Crime Act 2002 (POCA). Under this change, authorities have the power to seize cryptocurrencies and related physical items, such as flash drives and passwords, from suspects. Additionally, they can “destroy” a crypto asset if returning it to circulation is not deemed beneficial to the public. However, the specifics of how crypto assets will be destroyed have not been detailed in the law. While supporters argue that these measures will help combat money laundering, critics highlight the potential for abuse and the presumption of guilt without evidence. They also express concerns about the risk of premature sale of seized crypto assets and the lack of provisions for sharing information with global agencies. Overall, the new seizure regime compromises individual civil liberties and raises questions about the erosion of due process rights.