UK freezes millions in crypto since implementing new powers
According to an investigation by MailOnline, UK authorities have frozen approximately £6 million ($7.7 million) in crypto since new enforcement powers came into effect last year.
The measures, introduced in April 2024, allow police, law enforcement agencies, and HMRC to freeze suspicious cryptocurrency wallets for up to three years.
Court documents reviewed over the past six months reveal the largest single freezing order was for £1.5 million worth of cryptocurrency held in a wallet hosted by US-based exchange Coinbase.
HMRC requested this order and issued it at Newcastle Upon Tyne Magistrates’ Court on March 18.
The total frozen amount could be higher, as court data from Courtsdesk only covers…
