Lawmakers in the upper chamber of the United Kingdom’s Parliament are advancing legislation aimed at expanding authorities’ capabilities to combat the illicit use of cryptocurrencies. During a House of Lords meeting on July 4, the Economic Crime and Corporate Transparency Bill underwent a third reading. This bill, introduced in September 2022, seeks to enhance law enforcement’s power to tackle financial crimes involving cryptocurrencies. The United Kingdom’s proactive approach to crypto regulation showcases its commitment to becoming a global hub for the digital asset industry. The UK government is demonstrating its resolve to tackle financial crimes associated with digital assets.
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