Bitcoin is under scrutiny in the U.K., as the country’s largest police force called for new powers to freeze cryptocurrency assets just days after the financial watchdog said many crypto businesses weren’t meeting anti-money-laundering standards.
Detectives with the London Metropolitan Police, also known by the name of its headquarters Scotland Yard, want the ability to freeze criminals’ crypto assets in the same way they can stop them from transferring funds, the Times of London reported on Monday.
The police service is also lobbying the government for legislative changes that make it more difficult for criminals to transfer crypto assets, according to the report.
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