This cricial move will enable authorities to have the power to proceeds made from ransomware. The Twitter account Watcher.Guru (@WatcherGuru), which has more than 865,000 followers, wrote: “The UK will introduce legislation this year to regulate the Bitcoin and crypto industry and ensure authorities can seize ransomware proceeds.”
The Prime Minister will introduce a new economic crime bill to crack down on illicit finance in the country.
It is aimed at strengthening laws that have empowered its Russian sanction packages and empower authorities to seize cryptocurrency assets.
The Government has said the bill would be at forcing kelptocrats and dirty money out of Britain.
This would ensure people such as associates of Russian President Vladmir Putin are not in any way able to benefit from the UK economy.
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