UK government moves forward on bill aimed at empowering authorities to seize crypto.

Lawmakers in the upper house of the Parliament of the United Kingdom are moving forward with legislation aimed at expanding authorities’ ability to target cryptocurrencies used for illicit purposes.

In a meeting of the U.K. Parliament’s House of Lords on July 4, lawmakers conducted a third reading of the Economic Crime and Corporate Transparency Bill — legislation introduced in September 2022 as part of efforts to streamline law enforcement’s authority to crack down on crypto-related financial crime. Members of the House of Lords did not appear to propose any changes related to crypto enforcement in the bill’s most recent reading, describing recommendations as “minor” or “tidying up” amendments.