The UK government has taken a significant step towards curbing illicit activities in the cryptocurrency space by freezing over £6 million worth of crypto assets since new enforcement powers came into effect last year. These measures, introduced in April 2024, empower law enforcement agencies and HMRC to freeze suspicious cryptocurrency wallets for up to three years. A recent investigation revealed the largest single seizure order was for £1.5 million in cryptocurrency held on Coinbase’s platform, ordered by HMRC and enforced at Newcastle Upon Tyne Magistrates’ Court on March 18th. While the total amount frozen may exceed £6 million due to data limitations, court records only cover the past six months according to Courtsdesk.