Fighting "profits from fraud, drugs, and cybercrime," UK crypto bill

The UK has recently taken a severe crackdown on fraud and money laundering. And this bill is aimed at all of the above, as well as taking black money out of the country's economy.

The document called the Economic Crime, and Corporate Transparency Bill makes numerous changes to how businesses are set up in the UK. 

One of these changes is that the Companies House will have more power to oversee the creation of companies. This includes the ability to cross-check data with public and private partners, as well as report suspicious activity to security and law enforcement agencies.

As for cryptocurrencies, the bill would allow law enforcement agencies to seize, freeze and recover crypto-assets. More and more crypto-assets have been taken in the UK recently as cryptocurrency regulation in the country has increased.

Let's keep our finger on the pulse, as such initiatives of advanced European countries tend to spread quickly (sometimes, they don't).

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