UK Lords Pass Bill to Help Seize and Freeze Crypto Used for Crime

The U.K.'s Economic Crime and Corporate Transparency Bill, which would help law-enforcement agencies seize and freeze crypto used for crime, has passed the House of Lords and moves back to the House of Commons for final stages. The Lords did not change the bill's crypto provisions, but earlier amendments extended the measures to terrorism cases, added powers to seize property that helps identify crypto linked to crime, and let courts ask authorities to seize and freeze such crypto. Graeme Biggar, director general of the National Crime Agency, said in a September statement that criminals are increasingly using cryptocurrencies and that the reforms will help crack down on both laundering through U.K. company structures and crypto abuse. The bill becomes law once both houses agree and the king signs it.