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UK Nationwide Crime Company Seizes $33 Million in Cryptocurrency – Regulation Bitcoin Information

The British Nationwide Crime Company (NCA) has revealed that it has seized £26.894 million ($32.75 million) in cryptocurrency. “Criminals more and more exploited monetary expertise and crypto property” that would hurt “the U.Okay.’s economic system and establishments,” mentioned the company.

NCA Seizes Crypto Value $33 Million

The British Nationwide Crime Company (NCA) printed its annual report 2021-22 this week. The NCA “leads the U.Okay.’s battle to chop severe and arranged crime, defending the general public by concentrating on and pursuing these criminals who pose the best danger to the U.Okay.,” its web site states.

The report particulars that between April 1, 2021, and March 31, 2022, the NCA seized property value £59.79 million, stating:

Seized property held by the NCA as at 31 March 2022 consisted of £59.79m … in money, motor automobiles and different valuables suspected of being derived from legal exercise.

The NCA additionally revealed that £26.894 million ($32.75 million) in cryptocurrency was among the many property seized. In distinction, no cryptocurrency was seized within the 12 months 2020-21. The company didn’t specify which cryptocurrencies it seized.

UK National Crime Agency Seizes $33 Million in Cryptocurrency
The breakdown of the NCA’s seized property. Supply: NCA

The NCA additionally famous within the report that “Criminals more and more exploited monetary expertise and crypto property” that would hurt “the U.Okay.’s economic system and establishments.”

Morgan Heavener, a companion at consultancy Accuracy, commented: “The NCA has been pressured to maneuver swiftly to try to stem using these cryptocurrencies in monetary crimes. The dearth of regulatory oversight round cryptocurrencies makes them enticing for criminals looking for to maneuver funds around the globe.”

Different British regulators have additionally seized cryptocurrencies over time. In January, 12 U.Okay. police forces introduced that they seized cryptocurrency value roughly £322 million in legal investigations within the final 5 years. In July final 12 months, the British Metropolitan Police mentioned it seized £180 million in cryptocurrency as a part of a cash laundering investigation.

What do you consider the NCA seizing cryptocurrency? Tell us within the feedback part beneath.

Kevin Helms

A pupil of Austrian Economics, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His pursuits lie in Bitcoin safety, open-source methods, community results and the intersection between economics and cryptography.

Picture Credit: Shutterstock, Pixabay, Wiki Commons, William Barton / Shutterstock.com

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