UK Police Freeze £6 Million in Illicit Crypto Proceeds since New Powers

The United Kingdom has seen a significant crackdown on illicit crypto activities since new powers came into effect last year. Law enforcement, working in tandem with courts, have frozen approximately £6 million in cryptocurrency proceeds linked to criminal activity. Before these regulations, digital assets like Bitcoin were widely utilized for money laundering, tax evasion, and terrorist financing, often operating under minimal scrutiny. The crackdown allowed law enforcement agencies – including the police, HMRC (UK’s tax authority), and National Crime Agency (NCA) – to freeze suspicious funds and cryptocurrency wallets.