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Rapid Response Team: 0800 559 3500
Switchboard: +44 (0)203 947 1539
Rapid Response Team: 0800 559 3500
Switchboard: +44 (0)203 947 1539

Syed Rahman considers the UK’s new Crypto Seizure Powers

Author: Syedur Rahman  14 May 2024

UK authorities are now able to seize a person’s crypto assets without them even being arrested. Syed Rahman wrote an assessment of this and other related changes to the law.

His article, which was published by Cointelegraph, explains that the new powers are the result of amendments to the Economic Crime and Corporate Transparency Act 2023, which amends the confiscation regimes in the Proceeds of Crime Act 2002 (POCA). 

Syed outlines the new measures in detail. He says that while they may be thought of as a necessary step forward, they could be viewed as “an asset grab powered by a presumption of guilt without any evidence being produced.’’ 

He emphasises the need for law enforcement to use the new powers with caution. But he adds that if the authorities are not given adequate  resources to tackle crypto-related crime “they will still be fighting the battle with one arm behind their back.’’ 

The full article can be read here.

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Syedur Rahman is known for his in-depth experience of serious fraud, white-collar crime and serious crime cases, as well as his expertise in worldwide asset tracing and recovery, international arbitration, civil recovery, cryptocurrency and high-stakes commercial disputes.

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