Under the ECCT, cryptoassets can be handled in much the same way as bank accounts or physical assets during an investigation. This means that they can be frozen, put under investigation and ultimately earmarked for recovery.
Cryptocurrency gained international prominence in 2021, leading to the realization that existing laws were inadequate for regulating these technologies due to their association with organized crime.
#economic-crime-and-corporate-transparency-act-2023 #cryptocurrency #financial-crime #law-enforcement #investors
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